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

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Forms, checklists, and step-by-step instructions for choosing and implementing an ESOP

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. Divided into three sections— Decision Stage, Valuation and Financing Stage, and Transaction Stage— the Workbook answers such questions as:
* How to decide upon your objectives
* How to value your company
* How to determine the feasibility of an ESOP
* How to obtain financing
* What to do about your present plan
* How to invest the proceeds
* How to do the accounting
* How to communicate the ESOP to employees

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
  • Publication date: 6/21/2002
  • Edition description: 2ND
  • Edition number: 1
  • Pages: 84
  • 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.

2. What Is an ESOP?

3. What Are Your Objectives?

4. Methods I Want to Use for Selling Stock.

5. Stockholder Sale of Stock Under IRC Section 1042.

6. Creating Capital.

7. Selecting the Implementer.

8. ESOP Team.

9. Questions the Trustee Should Ask in Hiring an Appraiser.

10. Selecting a Trustee.

11. Naming the ESOP Committee.

12. Selecting the Administrator.

13. How to Communicate the ESOP to the Employees.

14. Feasibility Study Questionnaire.

15. Valuation of the Company for ESOP Purposes.

16. Financing.

17. Determining the Type of ESOP Transaction.

18. Estimating the Amount of Financing Needed.

19. Actions to Take Once You Have Decided to Install an ESOP.

20. Allocation.

21. Vesting.

22. Control.

23. Designing the ESOP Plan Provisions with the Attorney.

24. How to Communicate the ESOP to the Employees.

25. How to Coordinate the ESOP with Other Qualified Plans.


27. Type of Qualified Replacement Property Selling ShareholderMightContemplate.

28. Repurchase Liability.

29. Repurchase Liability Study Questionnaire.

30. Estate Planning.

31. What Has the Major Stockholder Done in Connection withEstatePlanning?

32. Management Buyout.

33. Are You Selling Part or All of the Company to an Outsideratthis Time? Why?

34. Eligible Employees.

35. Contribution Limits.

36. Census to Compute.

37. Formula to Determine Contribution Limits.

38. Whether to Be a C- or an S-Corporation ESOP.

39. The Decision-Making Process.

40. Items You Should Consider in Converting from a C-Corporationtoa Subchapter-S Corporation.

41. Provisions That You Should Tell Your Advisor.

42. Letting Your Employees in on Certain Aspects of YourCompany.

43. Diversification.

44. How We Would Distribute ESOP Benefits.

45. Equity Benefit Other Than ESOPs.

46. Accounting for the ESOP.

47. Anti-Abuse S-Corporation Rules.

48. The Free ESOP Information Hotline.

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