ESOPs for Liquidity and Diversification in the Construction Industry – ONLINE

Owners of closely held construction businesses may struggle to find liquidity options that meet their specific continuity and legacy goals. This conflict can inhibit sale transactions and complicate attempts to de-risk their concentrated wealth within the business.

Employee stock ownership plans (ESOPs) represent a tax-advantaged liquidity alternative, enabling shareholders to get “chips off the table”, while maintaining upside and retaining a meaningful role within their company (if desired).  This program will examine an ESOP sale compared to other sale options and offer of a detailed discussion of plan structures, tax benefits, and estate planning considerations.

Topics include:  Needs for Business Owners, Transaction Options, What is an ESOP?, Key ESOP Benefits, ESOP Tax Benefits, Basic ESOP Structure, Generational Equity Transfer Concerns, How ESOPs fit into Succession.

Cost: $25 for AGC NYS, ECA and NESCA members and $45 for non-members

Instructor:

Patrick Trask, CPA
With over 25 years of experience in banking, consulting, and public accounting, Patrick Trask offers clients a diverse financial services toolkit. A veteran of leading institutions including HSBC, JP Morgan Chase, and BNY Mellon, he has an extensive track-record with ESOP companies and a deep understanding of corporate finance.

Prior to joining CSG Partners in 2020, Patrick advised firms ranging in revenue from $15 million to $500 million as a Senior VP at Lakeland Bank. Patrick is based in the New York City metro area and focused on clients in New York and Connecticut. A graduate of the University of Notre Dame, he also served as Corporal/Squad Leader in the US Marine Corps Reserves. Patrick is a licensed CPA in New York State.

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