Estate Planning for ESOP Sellers – Considerations for Closely Held Businesses
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For business owners looking for a controlled succession plan which allows them to phase out of their company when they are ready, an Employee Stock Ownership Plan (ESOP) might be the right choice. The key is to properly structure the ESOP to maximize tax efficiencies while at the same time incorporating the post-ESOP assets into the client’s estate plan. Many business owners fail to include estate planning in their exit strategy which can lead to a failed generational transition of assets.
Mark Lobb, Managing Partner of Lobb & Plewe LLP, and Michael Harden, Senior Managing Director at AmbroseAdvisors, will share their 30+ years of experience in providing insight as to the attributes of ESOPs and how to incorporate the assets of an ESOP structure into an estate plan. Who needs an ESOP, What is an ESOP, When is the right time to put an ESOP in place, Where a business owner needs to go to get started and How to incorporate post-ESOP assets held by the selling shareholders into the shareholder’s estate plan. Enhancing the many benefits of an ESOP structure by incorporating estate planning should never be an afterthought by selling shareholders!
Mark Lobb, Partner and Founder
Lobb & Plewe – Attorneys At Law
Proper planning and understanding of state and federal laws are essential for business owners, real estate developers and affluent families. We know what is at stake and can handle all of your legal needs. Our lawyers have extensive experience with complex business transaction and litigation matters.
Michael Harden, Senior Managing Director
AmbroseAdvisors
Ambrose provides advisory services in the areas of mergers & acquisitions, ESOP buyouts, capital raising, valuation, and strategic/financial consulting to a wide variety of private companies. Ambrose offers a unified, multi-disciplinary professional team of in-house investment banking, consulting, and ESOP legal professionals to provide creative financial solutions to entrepreneurs, shareholders and corporate boards of privately-held companies.
