By CSG Partners Staff

Webinar:  Succession Planning and ESOPs

With post-pandemic planning on the minds of many family businesses, there's been a renewed focus on the formalization of succession and exit strategies. CSG's Patrick Trask joined accounting and legal experts to review planning considerations and transaction options.

In addition to gifting, related party sales, management buyouts, and private equity transactions, Trask and his co-panelists provided a detailed explanation of employee stock ownership plans. Highlighted as a legacy preservation and estate planning tool, the ESOP was also singled-out for its unique tax advantages and employee benefits.

The panel of advisors included Michelle Rider, Managing Director at Catania, Mahon & Rider, and Michael Turturro, Managing Director at RBT CPAs. Rider, a CPA and attorney, is an estate and succession planning expert with extensive advisory experience across the building trades. Turturro has served as an accounting advisor to major for-profit clients including heavy highway construction, mining, and manufacturing firms.

Featured Exit and Succession Planning Topics

Common Succession Challenges (Succession Planning & ESOPs Webinar)
The Preplaning Process (Succession Planning & ESOPs Webinar)
Transaction Options (Succession Planning & ESOPs Webinar)

 

Key ESOP Benefits (Succession Planning & ESOPs Webinar)

 

ESOP Tax Dedecutions (Succession Planning & ESOPs Webinar)
ESOPs and Estate Plans (Succession Planning & ESOPs Webinar)
 

Although the presentation was tailored to the construction industry, the lessons and insights are applicable to a wide range of closely-held businesses. The extensive webinar also addresses the following succession planning concepts:

  • The distinct business and legacy needs of private business owners
  • Key planning considerations in building and completing exit transactions
  • Identifying potential buyers
  • Employee ownership basics, including ESOP plan structure, financing, and contribution mechanics
  • How fair market value is established for ESOPs
  • Understanding 1042 rollovers and qualified replacement properties (QRPs)
  • Aligning business succession and estate plans

You can watch the complete video below. Our friends at the Construction Contractors Association of the Hudson Valley and the Construction Industry Council of Westchester & Hudson Valley have graciously made this content available to all. 

Full Video

Succession Planning and ESOPs Webinar (Full Length)