ESOP Workbook: The Ultimate Instrument in Succession Planning / Edition 1

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Financial officers need to know how to compare an Employee Stock Ownership Plan (ESOP) with other comparable plans and how to effectively present an ESOP proposal to corporate executives. ESOP Workbook: The Ultimate Instrument in Succession Planning is designed to help the corporate owner, financial officer, CPA, and attorney determine if an ESOP is appropriate for meeting a company's objectives and, if so, how to successfully implement a suitable ESOP. The Workbook's step-by-step use of forms and checklists shows the financial officer how to judge the feasibility of installing an ESOP versus other qualified or nonqualified plans or approaches. Once a suitable plan is chosen, the Workbook then guides readers through the entire implementation process. The Workbook also contains useful information for financial advisors and life insurance agents who need to know about ESOPs for their business. Valuable as a supplement to ESOP. The Ultimate Instrument in Succession Planning or as an independent resource, the ESOP Workbook is a one-stop practical guide for CPAs, attorneys, CFOs, and owners of private and public companies.
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Product Details

  • ISBN-13: 9780471220855
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 6/21/2002
  • Edition description: 2ND
  • Edition number: 1
  • Pages: 84
  • Sales rank: 1,020,752
  • Product dimensions: 10.00 (w) x 7.00 (h) x 0.20 (d)

Meet the Author

ROBERT A. FRISCH is Chairman/CEO of The ESOT Group, Inc., in Los Angeles, California, a firm that specializes in the implementation and management of ESOPs.

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Read an Excerpt

ESOP Workbook

The Ultimate Instrument in Succession Planning
By Robert A. Frisch

John Wiley & Sons

ISBN: 0-471-22085-X

Chapter One

How to Use This Workbook

This workbook can be used on a stand-alone basis in helping a CEO or the CEO's advisor organize his or her thinking about whether an ESOP is right for achieving one's objectives. It is designed to help one decide whether to become a Subchapter-S Corporation or a C-Corporation or, at some point, both.

By organizing one's thinking about the steps that must be considered, the workbook should be of great assistance to the CEO's advisors in structuring an ESOP to the business owner's greatest advantage in achieving what he or she would like to accomplish.

The act of actually filling in blanks compels one to think out the various alternatives that must be considered in arriving at a fruitful decision. All of the blanks should be completed and the workbook given to the business owner's advisors to help them prepare an ESOP document and transactions that will accomplish the owner's goals.

The author hopes that this workbook will be of great assistance in preparing one of the most meaningful documents of the business owner's working career.

A clear, though comprehensive, treatment of ESOPs is provided in this author's book, ESOP: The Ultimate Instrument in Succession Planning, available at bookstores or from the author at (800) 422-ESOP (3767).


Excerpted from ESOP Workbook by Robert A. Frisch Excerpted by permission.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

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Table of Contents

1. How to Use this Workbook 1
2. What Is an ESOP? 2
3. What Are Your Objectives? 5
4. Methods I Want to Use for Selling Stock 7
5. Stockholder Sale of Stock Under IRC Section 1042 8
6. Creating Capital 10
7. Selecting the Implementer 12
8. ESOP Team 13
9. Questions the Trustee Should Ask in Hiring an Appraiser 14
10. Selecting a Trustee 15
11. Naming the ESOP Committee 17
12. Selecting the Administrator 18
13. How to Communicate the ESOP to the Employees 19
14. Feasibility Study Questionnaire 20
15. Valuation of the Company for ESOP Purposes 24
16. Financing 26
17. Determining the Type of ESOP Transaction 28
18. Estimating the Amount of Financing Needed 29
19. Actions to Take Once You Have Decided to Install an ESOP 31
20. Allocation 32
21. Vesting 33
22. Control 34
23. Designing the ESOP Plan Provisions with the Attorney 35
24. How to Communicate the ESOP to the Employees 37
25. How to Coordinate the ESOP with Other Qualified Plans 39
26. CHESOP 41
27. Type of Qualified Replacement Property Selling Shareholder Might Contemplate 45
28. Repurchase Liability 47
29. Repurchase Liability Study Questionnaire 49
30. Estate Planning 51
31. What Has the Major Stockholder Done in Connection with Estate Planning? 52
32. Management Buyout 53
33. Are You Selling Part or All of the Company to an Outsider at this Time? Why? 54
34. Eligible Employees 56
35. Contribution Limits 57
36. Census to Compute 58
37. Formula to Determine Contribution Limits 60
38. Whether to Be a C- or an S-Corporation ESOP 61
39. The Decision-Making Process 63
40. Items You Should Consider in Converting from a C-Corporation to a Subchapter-S Corporation 64
41. Provisions That You Should Tell Your Advisor 65
42. Letting Your Employees in on Certain Aspects of Your Company 71
43. Diversification 73
44. How We Would Distribute ESOP Benefits 74
45. Equity Benefit Other Than ESOPs 78
46. Accounting for the ESOP 80
47. Anti-Abuse S-Corporation Rules 81
48. The Free ESOP Information Hotline 83
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