Employee Stock Ownership Plans (ESOP) Practice
ESOPs are an important business succession planning option.
Providing business owners with succession planning options is of paramount importance to the attorneys at the firm. Our pension, corporate and estate planning attorneys are highly skilled and experienced in the creation and administration of ESOPs and are able to apply the intricate ESOP rules to our clients' maximum benefit.
Selling stock in your business to an ESOP provides clients with unique benefits:
- Receive payment for the value of your business while retaining operational control.
- Defer (or eliminate) taxes on the sales proceeds.
- Generate significant annual tax deductions.
- Sell your business gradually.
- Motivate your work force.
- Diversify your financial portfolio.
Call us to discuss whether your business is an ESOP candidate.
Case Study:
ESOPs Are a Win-Win
Opportunity: Our client established a clothing company approximately 20 years ago. Now he has decided that it is time to move on to the next stage of life. He had two main objectives when considering the succession planning options for his business:
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