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38: Engaging an External ESOP Trustee

Capital Trustees’ Co-Managing Director Bret Keisling and Client Relations Associate Brian Keisling take a deep dive into what happens after a company engages an external trustee.

Topics include: * The due diligence document request process, and some background on why we request the documents that we do; * What we do with those due diligence documents after being engaged; * The formal valuation advisor engagement process and agreement; * What happens on one of our personal favorite parts of the process - a site visit; * How the external trustee, per their responsibility under law, sets the share price for a company; * The preparation of the draft and final annual update report; * The changes to signatories on the trust accounts when shifting from an internal to external trustees; and * What external trustees do and how they are engaged on an annual basis.


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