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  • Management Agreement Page 1
  • Management Agreement Page 2

Management Agreement (2 Pages)

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This is a basic Form of a Management Agreement that may be used to recognize the services that a person is performing on behalf of an entity, and to allow compensation to be paid to that person. In many family business situations, regardless of the manner in which the equity ownership interests are held, one family member may be performing a significant part of the day-to-day management services. This Agreement allows that person to be compensated for such services without necessarily disturbing the equity ownership balance. It is suggested that the compensation be referred to on an attached Schedule, in order to make modification of the Agreement easier to address from time to time. 

Of course, this Form may also be used in a non-family business context where it is desired to recognize and compensate one or more individuals for their management services.

RELATED CLE COURSES
: Please note: Mr. Siegel's "Buying A Business: Advising Your Client" and "Selling Or Gifting A Business: Advising Your Client" are currently available on audio CD and DVD at www.nlfcle.com and online at www.nlfonline.com. On both of these web sites, click on your state (or any state if you do not care about earning CLE credits) and scroll down to the respective course titles, both which appear under the heading "Other".

Author:
Steven G. Siegel is president of The Siegel Group, a Morristown, New Jersey - based national consulting firm specializing in tax consulting, estate planning and advising family business owners and entrepreneurs. Mr. Siegel holds a BS from Georgetown University, a JD from Harvard Law School and an LLM in Taxation from New York University.

He is the author of several books, including: Planning for An Aging Population; Business Entities: Start to Finish; Taxation of Divorce and Separation; Income Taxation of Estates and Trusts, Preparing the Audit-Proof Federal Estate Tax Return, Putting It Together: Planning Estates for $5 million and Less, Family Business Succession Planning, Business Acquisitions: Representing Buyers and Sellers in the Sale of a Business; Dynasty Trusts; Planning with Intentionally-Defective Grantor Trusts; The Federal Gift Tax: A Comprehensive Analysis; Charitable Remainder Trusts, Grantor Trust Planning: QPRTs, GRATs and SCINs, The Estate Planning Course, The Retirement Planning Course, Retirement Distributions: Estate and Tax Planning Strategies; The Estate Administration Course, Tax Strategies for Closely-Held Businesses, and Tort Litigation Settlements: Tax and Financial Issues.

Mr. Siegel has lectured extensively throughout the United States on tax, business and estate planning topics on behalf of numerous organizations, including National Law Foundation, AICPA, CCH, National Tax Institute, National Society of Accountants, and many others.  He has served as an adjunct professor of law at Seton Hall and Rutgers University law schools.

The Siegel Group provides consulting services to accountants, attorneys, financial planners and life insurance professionals to assist them with the tax, estate and business planning and compliance issues confronting their clients. Based in Morristown, New Jersey, the Group has provided services throughout the United States. The Siegel Group does not sell any products. It is an entirely fee-based organization.
Contact the Siegel Group through its president, Steven G. Siegel, e-mail: steve@siegel.net.
 

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Many states permit CLE credits to be earned by study of online courses. To see our many online CLE courses, go to : www.nlfonline.com

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