ESOPs as a Business Succession Option
Steven A. Migala and David G. O’Leary • June 16, 2023
Employee Stock Ownership Plans are reviewed by Lavelle Law attorneys Steven Migala and David O'Leary, both of whom have extensive experience with this business succession option. ESOPs are a mechanism by which owners can sell their business to employees allowing their legacy to be protected. Learn about the advantages of the approach and some of the mechanisms involved in an ESOP transaction.
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Lavelle Law News and Events
By January 1, 2027, condominium and common interest community associations in Illinois must adopt a written collection policy. Under the new law, an association that has not adopted the required policy will be prohibited from initiating legal action to collect delinquent assessments and other common expenses.
Lavelle Law Game Show Event Goes Buzzer to Buzzer -
Lavelle Law in Schaumburg has grown over the last 30 years to become a multi-faceted law firm, with more than 40 attorneys who are experienced in numerous areas of law. But last month, the firm upped its game, so to speak.
Lavelle Law Attorneys Kaiser and Kokoszka share stories from trust administration disputes, plus red flags of a fiduciary breach and how to protect yourself. Register today for "Tales from the Trenches on Trust Administration"
Federal Banking Regulators Clarify What Financial Institutions Can Tell Customers About Fraud Investigations and Account Closures
Taxpayers should watch for the following OBBB-related scams and take steps to protect their personal and financial information.
Thinking of selling your business ahead of retirement? Business owners should begin preparing when they enter the “red zone” before retirement - not wait until they’re ready to retire. Kerry Lavelle explains this and more in the Lavelle Law Minute video, "Options and Tips for Selling Your Business."
Court Denies Petition to Remove Executor - Major Probate Litigation Defense Victory - A Lavelle Law Success Story.
On August 20, 2026, the Internal Revenue Service announced a digitally authenticated Tax Compliance Report available through IRS Individual Online Accounts.
Taxpayers can securely obtain and download the report when applying for a job, a loan, a government benefit, or another service that requires tax compliance info.
FinCEN update: Condo, HOAs, and other common interest community associations no longer have to file BOI reports with FinCEN. Volunteer board members are no longer required to report their personal information to the federal government simply because they sit on an association’s board of directors.
Discover the latest tax law updates and planning opportunities that can help you reduce taxes, protect wealth, and prepare for the future.
