Practice areas
Recognitions
- Listed in The Best Lawyers in America® in the area of Employee Benefits Law
Education
- Temple University School of Law, L.L.M., Taxation, 1983
- Duquesne University School of Law, J.D., 1982
- Pennsylvania State University, B.A., 1979
Drake Nicholas is a partner in the law firm of Rhoads & Sinon and has been listed in the Best Lawyers in America® in the area of employee benefits law for over 15 years. He focuses his practice on business succession planning and corporate reorganization strategies and has also practiced in the areas of employee benefits, ERISA and Executive Compensation for over 25 years.
Mr. Nicholas heads the firm’s Employee Stock Ownership plan (ESOP) practice team and regularly advises shareholders, directors and companies and various other professional and private fiduciaries regarding the establishment, use and operation of ESOPs and ESOP related strategies, including ownership succession transactions, management buyouts, mergers and acquisition.
Mr. Nicholas also manages a unique independent fiduciary practice under which he serves as an independent trustee or independent fiduciary to employee stock ownership plans. He also frequently acts as an independent fiduciary in other situations requiring the services of independent fiduciary under ERISA, such as when required per under prohibited transaction class exemptions.
Mr. Nicholas also advises and represents clients with respect to audits and other matters before federal agencies charged with the enforcement of the Employee Retirement Income Security Act (ERISA), including the United States Department of Labor, the Internal Revenue Service and the Pension Benefit Guarantee Corporation. Mr. Nicholas lectures extensively to CPAs and other professionals and before numerous business organizations on business succession strategies, including the utilization of ESOPs for closely held and publicly traded companies.
Bar & Court Admissions
- Supreme Court of Pennsylvania
- United States District Court for the Middle District of Pennsylvania
- United States Tax Court
Professional & Community Affiliations
- Pennsylvania Bar Association
- ESOP Association
- Leadership Harrisburg