An ESOP Plan is one of many exit strategies available to business owners. In this interactive interview with a business owner who implemented an ESOP in 2013, the Company’s ERISA attorney that worked with them to design and implement the ESOP and the current financial advisor who worked with the Company through a DOL audit.
- The thought process that went into deciding to implement an ESOP as an exit strategy
- The tax benefits to the business owners as well as the business
- The complexities and costs associated with implementing an ESOP and ongoing compliance requirements
- Valuation requirements and procedures to implement to avoid a DOL audit
- Discuss whether an ESOP as an exit strategy is right for every business
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