ESOP: The Ultimate Instrument in Succession Planning, 2nd Edition

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9780471434443: ESOP: The Ultimate Instrument in Succession Planning, 2nd Edition
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What if there were a way an owner of a private company could:
* Sell stock of the company, pay no tax on the proceeds, and still keep control?
* Increase the company's working capital and cash flow with no cash expenditure?
* Provide employees with equity at no cash outlay on anyone's part?
* Make life insurance premiums tax deductible?
* Increase productivity, profitability, and company value with no cash outlay?
* Allow the corporation to operate in a totally tax-free environment?
An ESOP-- Employee Stock Ownership Plan-- does all that and it does it with the sanction and encouragement of the United States Congress.

ESOP: The Ultimate Instrument in Succession Planning, Second Edition is a comprehensive yet easy-to-understand guide emphasizing the corporate financial benefits that an employee stock ownership plan can offer as a business financing instrument. Written by noted expert Robert Frisch and updated to include the latest developments, this book explains in clear language ESOPs work and how owners of private corporations can use them as versatile financial tools to achieve their succession planning objectives.

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From the Inside Flap:

ESOPs–– Employee Stock Ownership Plans––could be considered the industrial equivalent of the Homestead Act–– a liberation of the nation’s industrial wealth that benefits both owners and employees of private corporations. They allow owners to sell stock of their company and retain control without paying taxes. They provide employees with equity without forcing them to pay from their own pockets. They create incentives that increase productivity, profitability, and company value. In short, ESOPs and their trust equivalents, ESOTs (Employee Stock Ownership Trusts), are truly unique win-win instruments of corporate finance that should be considered by every profitable, growing corporation.

While focusing on the role ESOPs play in succession planning, this comprehensive guide details how ESOPs work, the rules that govern them, and the many situations they can be applied to. Easy-to-read yet comprehensive, this Second Edition reveals how ESOPs are a convenient and cost-effective way for many small corporations to meet even the most basic financial and cash flow needs.

This Second Edition:

  • Details how the owner of a private corporation can sell stock tax-free and continue to control the stock
  • Covers how the corporation can operate in a tax-free environment through tax deductions
  • Provides the latest IRS rules pertaining to ESOPs in an easy-to-read format
  • Explains how the ESOP can become a tool for designing compensation arrangements that motivate, retain, and recruit employees
  • Outlines strategies for using the ESOP as a principal element in succession planning
  • Identifies how Subchapter S Corporations can now have ESOPs

In recent years, ESOPs have proved particularly useful: as a way of creating a market of nontradable closely-held corporate (small business) stock . . . as a means of financing a company’s expansion (such as Avis did) . . . and as a viable option to meeting union wage and benefit demands, thereby avoiding a potential bankruptcy, reorganization, or workout (as in the case of United Airlines). Illustrating its points with fascinating case histories, ESOP: The Ultimate Instrument in Succession Planning, Second Edition alerts you to the remarkably versatile ways the ESOP can maximize the value to owners of private corporations, create a windfall for employees, and perpetuate your organization and keep it in the community.

About the Author:

ROBERT A. FRISCH is Chairman/CEO of The ESOT Group, Inc., headquartered nationally in Los Angeles. The firm specializes in the implementation and continued management of Employee Stock Ownership Plans and has implemented hundreds of ESOPs throughout the country. Frisch consults extensively with owners of closely-held companies on perpetuating the family business and with public and private companies on management buyouts.

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