Aspatore Books just released its 2016 edition of Recent Changes in Employee Benefits and Executive Compensation: Leading Lawyers on Understanding ERISA Changes, Navigating Disclosure Guidelines, and Designing Compliance Strategies (Inside the Minds). Employee Benefits partner Brian D. Hector authored the chapter “ESOPs for Owners of Privately Held Corporations,” which discusses how an employee stock ownership plan (ESOP) is a useful succession planning tool for the owners of closely held businesses. This chapter examines the many benefits of ESOPs (including the tax benefits for a company, business owner, and participants) and explains some basic ESOP rules and some common misconceptions.
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