Malleo Financial Services

Michael A. Malleo 

Phone: 201-321-7041

mike@malleofinancialservices.com

 

Terms of Notarial Acts:

Acknowledgement – Certifying that a signer personally appeared before the Notary, was identified by the Notary, and acknowledged freely signing a document.

 

Malleo Financial Services is a proud member of ALTA (American Land Title Association), the American Society of Notaries, and the National Notary Association (NNA). We're also a Fidelity National approved closer. 

 

FIDELITY APPROVED CLOSER
FIDELITY APPROVED CLOSER

 

*The opinions expressed on this website are strictly those of Malleo Financial Services, LLC and not those of ASH Brokerage Corp.., or any of our affiliates.

 

*Malleo Financial Services LLC cannot and

will not give any tax or legal advice.

 

Outdated Business Plans

When is the last time a valuation was completed for your business?

When did you last review your operating and/or buy-sell agreement?

Has your ownership structure changed over the past several years?

 

Here is a situation where these 3 questions had a significant impact.

 

The Issue


About five years ago, Tom and Jerry established a business partnership and opened a pet supply store. At the time, they created a buy-sell agreement, which was funded with life insurance. Since then, the business has grown significantly – they opened two more locations and also brought in a third partner. However, the business has not been valued and the buy-sell agreement had never been updated.

 


The Solution


An informal business valuation and a buy-sell agreement review were completed. The life insurance policies are also analyzed as part of an overall business planning audit. Tom and Jerry discovered their business is worth up to 40 percent more than they originally considered. The buy-sell agreement was modified into a partnership agreement to reflect the new value and the additional partner. 



For a free consultation, please contact us for an appointment.

 *This blog is strictly the opinion of Michael A. Malleo and not those of

ASH Brokerage Corp., nor any of our affiliates.

 

Malleo Financial Services LLC cannot and will not give any specific tax or legal advice.

Please consult your tax professional or legal professional for such advice.