If you own a business and have not put a succession plan in place, you might be thinking that the best choice, when the time comes to retire, is to simply sell your business outright to the highest bidder. However, selling your business to your employees may be a better option in certain situations, through what is known as an Employee Stock Ownership Plan (ESOP).
Selling Your Business to the Highest Bidder Is Not Necessarily the Best Option
Blog Posts, Estate Planning
Excerpt
If you own a business and have not put a succession plan in place, you might be thinking that the best choice, when the time comes to retire, is to simply sell your business outright to the highest bidder. However, selling your business to your employees may be a better option in certain situations, through what is known as an Employee Stock Ownership Plan (ESOP).
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