All posts in ESOP Trusts

Get Your ESOP to the Finish Line in 5 Steps

So, you’ve been giving a lot of thought to your business succession plan, and you’ve put many hours and sometimes sleepless nights into the research process. There are a lot of options to consider, and you’re starting to formulate a strategy that feels right to you.

It takes a long time to wade through the various scenarios that might be best suited to your personal business situation.  Unfortunately, retirement planning takes just that—a ton of planning!  But you’re off to a great start—you know that an ESOP is a right fit for you.

ESOPs provide a wonderful way for a CEO to transition from a very active role to a more passive one.  Employees opting into an ESOP gain a real feeling of ownership, pride, and teamwork.  It’s a win-win situation for all involved.

Seeing the benefits to all parties involved was easy for you.  But trying to actually implement ESOPs into your business?  Not so much.

It’s easy to become overwhelmed by what appears to be an insurmountable task.  The sheer amount of logistical paperwork seems like a nightmare!  But like anything worth tackling, it becomes less intimidating when broken down into simple, manageable steps.

In this article, you will discover five straightforward steps to take your ESOP from just a concept to a reality.

Click to read the rest of the article on the GBH website.


ESOP companies & fiduciary responsibilities

Nancy Stern counsels ERISA fiduciaries on the exercise of their duties in the context of a corporate transaction and works closely with other members of our ESOP practice. She helps ESOP companies with transactional issues, corporate governance matters, securities issues and subordinated debt and equity-based financing arrangements. Ms. Stern has extensive experience coordinating complex ESOP transactions.


Employee Benefits for ESOP Companies

Merri Ash is vice president of First Bankers Trust Services. Merri has more than 34 years experience in employee benefits services. Her past work experience includes work as a senior trust officer with SunTrust Bank, employee benefits consultant with Wyatt Company, benefits manager with Jonathon Corporation, an ESOP company and team leader and senior benefits consultant with the National Automobile Dealers Association.

Merri Ash was interviewed in May of 2012 for the ESOP Advisor Hall of Fame. You can read her interview online at