The Top 10 of ESOPs
Let’s face it, Americans love top 10 lists. David Letterman includes one in every episode of the show, and if you Google top 10 lists you will find an array of results that range from the predictable to the just plain strange.
- 10 absurd trademark claims
- 10 video game characters with real-life prototypes
- 10 competitive eating achievements NOT to be tried at home
I recently put together a top 10 list (of sorts) for Employee Stock Ownership Plans (ESOPs). It outlines in ten steps the activities that need to be completed to put a plan in place.
The ten steps are:
(1) Engage your ESOP consultant
(2) Conduct an ESOP feasibility analysis
(3) Identify your ESOP team
(4) Obtain appraisal for ESOP purposes
(5) Structure the transaction
(6) Finance the transaction
(7) Conduct due diligence
(8) Review plan details
(9) Facilitate rollout to employees
(10) Administer the ESOP
If you are considering an ESOP to help you plan for diversification or succession, you may find this top 10 list helpful. You can find additional information at: 10 Steps to setting up an ESOP.
In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Click to follow me on Twitter- @jlripperger .
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