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.

 

Retaining a Key Employee

  • How much of a loss would your business suffer if a key employee left and joined a major competitor?
  •  Do you have a strategy in place to retain a key employee?

  

Felix owns a highly successful business consulting company. Felix’s son, Leonard, has been working in the business for about to 8 years, and Felix plans on turning over the business to Leonard within the next 4 years. However, he’s worried that his top salesman, Oscar, may not like working for Leonard.

 

Felix decides to implement a “Golden Handcuff” executive bonus plan. The company agrees to fund a $750,000 personally owned life insurance policy on the life of Oscar. The plan requires the company to pay a premium of $13,000 per year, provided that Oscar meets certain performance targets. The agreement also includes a vesting schedule, which will restrict Oscar’s access to the policy cash value. Once Leonard takes over ownership of the company, Oscar will most likely be very motivated to stay with the company or else forfeit a significant portion of the cash values in the life insurance policy.

 

 

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.

    

 

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