Tabitha Croscut

I help my clients assess, consider, and navigate the utility of an Employee Stock Ownership Plan as an ownership succession and employee incentive strategy. For companies that have already implemented an ESOP, I provide counsel and guidance for ongoing compliance of the ESOP as a qualified retirement plan and with any related fiduciary or corporate governance concerns, including US Department of Labor and Internal Revenue Service audits and any voluntary correction submissions that may be applicable.

My clients include business owners and companies considering an ESOP, companies that have already implemented an ESOP, individual selling shareholders, banks, and internal and external (individual and institutional) ESOP trustees. I have advised clients in ESOP transactions ranging from under a million dollars to over four hundred million dollars.

We were and continue to be extremely pleased with [Tabitha’s] level of knowledge on all things ESOP’s, but more than that is her practical way of dealing with clients in a way that is understandable and meets the outlined goals.

Derrick Vick, CFO at Freedom Industries, Inc.

I frequently speak at ESOP conferences nationwide and present regularly on how ESOPs can be an effective and tax efficient exit or transition planning solution for owners of privately held businesses.

I strongly believe that employee ownership through an ESOP can be extremely motivating for employees in a structure that maintains good jobs in local communities while serving as an ownership transition and liquidity strategy for privately held business owners. Curious how to hire an ESOP attorney and why it matters?

When I’m not counseling clients on a myriad of ESOP related matters, my other job is as a mother of two young girls who keep me busy with their love of animals, sports, and musical activities. I also enjoy travel and meeting new people in new towns all over the United States.

Representative Matters

• Served as counsel to retail company in multimillion dollar sale of founder’s stock to a newly established employee stock ownership plan.
• Served as counsel to Trust Company serving as a trustee of an ESOP that acquired 100% of the company’s shares to become an ESOP owned company.
• Served as counsel to a 100% ESOP owned manufacturing company that sold to a third party buyer.
• Served as counsel to internal trustees considering the purchase of shares from an shareholder in a multimillion dollar purchase.

Publications

• "Loan Forgiveness Under the CARES Act," Devine Millimet E-Alert, March 31, 2020
• "COVID-19 – The CARES Act and Loans under the Paycheck Protection Program," Devine Millimet E-Alert, March 31, 2020

Speaking Engagements

• Co-presented "ESOP 101" webinar hosted by Connecticut Business and Industry Association (CBIA) with Empire Valuation Consultants & Wells Fargo via Zoom on Nov. 24, 2020, which is recorded and available here
• Co-presented "ESOP 201 ESOP Feasibility" webinar with Empire Valuation Consultants (recorded) via Zoom on September 30, 2020, which is recorded and available here
• Co-presented "Hot Topics for ESOPs" and "ESOP Transaction Basics" via Zoom at the 2020 Annual Vermont Employee Ownership Center Conference on Aug. 18, 2020
• Co-presented "ESOP Hot Topics" via Zoom for Vermont Employee Ownership Center on June 11, 2020 which is recorded and available here
• Presented NCEO seminar "The ABC's of ESOP Feasibility: What is it?" at the NCEO’s 2020 Annual Employee Ownership Conference on April 21, 2020
• Presented at "Is an ESOP Right For You" hosted by the National Center for Employee Ownership in person seminar in Scottsdale, AZ on February 11-12, 2020
• "Hot Topics for ESOPs," Webinar sponsored by the Vermont Employee Ownership Center, June 11, 2020
• NCEO’s Annual Employee Ownership Conference, Pittsburgh, PA, April 9-11, 2019
• "Introduction to the Employee Stock Ownership Plan- The ESOP," SE EASA Spring Conference with HDH Advisors, Myrtle Beach, SC, March 6-9, 2019
• "Is an ESOP Right for You? An In-Depth Look at Employee Stock Ownership Plans," Embassy Suites, Scottsdale, AZ, February 13-14, 2019
• "Boards of Directors’ and Trustees’ Roles in ESOP Companies: Part 1," 2018 Las Vegas Conference and Trade Show, Caesars Palace in Las Vegas, Nevada, November 8-9, 2018
• "Plan, Design, and Operation" session at "Is an ESOP Right for You? An In-depth Look at Employee Stock Ownership Plans," NCEO Conference, Memphis, TN, October 17-18, 2018
• “CEO/CF - Things to Know When Considering a Sale of Your ESOP Company,” New England Chapter, 2018 Annual Fall ESOP Conference, Mystic, CT, October, 11-12, 2018
• "Annual Valuation Process: What Internal Trustees Need to Know," Multi-State Conference, Hershey Lodge in Hershey, PA, September 12-13, 2018
• "Introduction to ESOPs," Vermont Bar Association, Burlington, VT, June 22, 2017
• "ESOP Transaction Basics and the Story of Switchback Brewery's New ESOP," VEOC Annual Conference, Burlington, VT, June 2, 2017
• "What to do with Your Cash: Repurchase, Growth, Preservation," 2017 NCEO Employee Ownership Conference, Denver, CO, April 4-6, 2017
• "ESOP 201 - The Deeper Dive," The ESOP Association New England Chapter, Lowell, MA, March 31, 2017