Why Your Employees Might Be Your Best Succession Plan
When you are gone, who will carry the torch?
Chances are, you have been giving this question some thought lately. You might be discussing options such as selling to a competitor or to a third party.
Maybe you have even discussed selling the business to a group of key managers. After all, your employees are the group of people who know your business better than anyone else, and they have nearly as deep an interest in its success as you do.
Designed to only scratch the surface of Employee Stock Ownership Plans, which are complex structures that depend on your specific situation, A Beginner's Guide to ESOPs provides key insights on:
What is an ESOP (and what it is not)?
How is a typical ESOP structured?
Where do the retirement funds come from?
What are the advantages of ESOPs?
Is an ESOP right for my company?
About the Authors
Mark Flinchum, CPA
Mark Flinchum is partner-in-charge of Katz, Sapper & Miller’s ESOP Services Group. Mark represents several ESOP-owned businesses and has structured a number of business sales to existing and newly formed ESOPs.
Andy Manchir, ASA, CEPA
Andy Manchir is a director in Katz, Sapper & Miller’s Valuation and ESOP Services Groups. Andy provides valuation and business advisory services for various purposes, with a particular emphasis on ESOP services.
About KSM's ESOP Services Group
Katz, Sapper & Miller appreciates the unique opportunities and responsibilities that many ESOPs face. Implementing our own ESOP in 2001 has better prepared us to serve as business, tax, accounting, and valuation advisors to employee-owned companies in a variety of industries. We offer in-depth knowledge, experience, and resources to help manage an ESOP’s many moving parts, protect assets, and provide innovative ideas and guidance to navigate this complex plan structure.
We take your privacy very seriously. We will never sell your contact information to third parties.
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