Tucker & Meltzer is pleased to announce that Anne Meltzer has been admitted as a member of the Washington D.C. Estate Planning Council. Being a member of this planning council is a great achievement. The admittance process is an arduous one. It requires a current member of the council to sponsor the nominee, supporting their sponsorship with a written statement of their experience working with them and why they think the nominee should be a member. The nominee must write a lengthy professional biography, including several examples of how they have assisted clients in the DC region with their estate planning needs. The submission goes to the membership committee for them to accept or deny membership. Read the rest of this entry »
Written by Anne R. Meltzer, CPA/ABV
Have you considered the ESOP Repurchase Obligation? This refers to the “put” right which obligates the company to purchase an employee’s shares. The majority of ESOP repurchases are due to employee terminations and retirements. Since both of these situations are fairly predictable, the repurchase obligation is also predictable and manageable.
The impact of the repurchase obligation on fair market value depends most strongly on the 1) percentage of stock owned by the ESOP, 2) distribution rules within the plan document and 3) the methods used to repurchase the shares. Read the rest of this entry »