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.

 

Transitioning

 

The Dilemma of Simpson Siding

 

Simpson Siding has been in business for more than 20 years. Father and son Homer and Bart Simpson are co-owners, and Bart has played a significant role in the business for the last five years. Now Homer is looking to transition out of the business, but the Simpsons have no retirement plans and no buy-sell agreement. 

 

 

Solution 

The Simpsons were advised to design a buy-sell agreement that allows Homer to leave with the business still paying him a salary. Life insurance was used to fund the agreement, so their families will be financially stable if anything happened to either of them. Finally, Bart began making both pre-tax contributions to a SEP-IRA, as well as after-tax contributions to a Roth IRA to help with his retirement needs in the future.

 

  

Family owned businesses are a source of pride … but they can also be a source of risk. Don’t avoid tough conversations in your office for the sake of avoiding uncomfortable conversations around the dinner table. We at Malleo Financial Services can help you develop a plan that protects your business and family.

 

 

  

 

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., Quest Capital Strategies, Inc., 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.