Thinking of retirement and want to transfer business ownership to your employees? ESOPs are designed just for this purpose. We can make it happen.
Your hard work has paid off, and you’re ready to retire or start a new chapter in your career. At the same time, you have employees in place who are just as passionate about your business as you are. Transferring ownership to your employees through an Employee Stock Ownership Plan (ESOP) might be the right decision.
How We Can Help
UB Greensfelder’s ESOP attorneys represent businesses, business owners, ESOP trustees, and lenders in various ESOP transactions and other matters. For businesses and business owners considering an ESOP, we walk clients through the technical and practical issues involved in implementing ESOPs, including:
- ESOP feasibility
- Plan design and drafting
- Transaction structure, negotiation, and implementation
- Appraisals and transfers of stock
- Code § 1042 elections
- Employee communications
Additionally, we often represent trustees in ESOP transactions, advising during negotiations and providing ongoing counsel after the ESOP is implemented. We also represent lenders who make loans to facilitate sales of company stock to ESOPs to help them identify and navigate the unique issues associated with ESOP transactions.
