UNDERSTANDING ARTIST MANAGEMENT & THE ARTIST AGENT

As a Professional Artist Manager, I am asked daily by musicians, "How do I find a manager to represent me?" or "Do you know any managers  who can manage me? or Are you interested in managing my band?" " What can you do for my band?" or "How do I go about finding a good manager?" I think that while those are valid questions, other important questions are, "When should I consider being represented by a manager?", What does a personal manager do? What are the qualifications of a manager? Let me give you a quick overall view of Artist Management and representation.

THE MANAGER

First, let's state what a personal manager is not. A personal manager is not an agent (whose role is to obtain employment). A personal manager is not a publicist (whose role is to generate publicity). Nor is a personal manager an attorney (whose role is to provide legal counsel). And, a personal manager is not a business manager (whose role is to provide accounting, investment, and other financial services). What exactly a manager is or does is a topic that's discussed frequently in music industry circles. There is no precise description of what a manager is or definition of what a manager does that everyone can agree on easily  Twenty different people will have all different opinions on the subject. In addition, the job of the manager is fairly complex and can differ from situation to situation depending on the stage of the artist's career and the areas that the artist needs help in (e.g. image development, publicity, label shopping, touring, recording, publishing, songwriting, licensing, merchandising, sponsorship acquisition, etc.). Nothing is cut in stone.
 
An artist will encounter four types of music managers at some point in their musical lives: personal managers, business managers, tour managers, and road managers. Here I will be concentrating mainly on the personal manager. Management" is a somewhat vague and convoluted term in the rock and roll business.  Most bands  think they want "Management"  when really, they just want someone to get them gigs.  That's actually a booking agent.   Basically speaking,  A manager is someone that advises  and counsels you (and/or your band) in every aspect of your career.  You need help,  more gigs, or maybe a tour, new press kits and promotional materials, a kick ass demo. So who do you hire? an agent, or a manager, or both?  Fed up and exasperated with a lack of consistent gigs, tired of hours on the phone calling club owners and mailing materials a band sets up a meeting with a personal manager. things are going well in the meeting and after hearing the bands music and getting to know the members the manager starts laying out some ideas for the band, and although everyone seems in agreement, the singer asks, " That's cool but what kind of gigs can you get for us?" this band is really looking for some one to handle their booking - an agent, not a personal manager. I see this often in meetings with artists, a common mistake made in the music business of confusing the functions of agents and managers. Since an agent's or manager's responsibilities may overlap, its not hard to see where this confusion begins with many artists, but there are basic differences in their roles.
 

A manager assumes many different roles, depending upon the nature of the relationship with the artist, a personal manager is an advisor, confidant, counselor, organizer, industry "buffer", cheerleader, protector, and  member of the band that never performs on stage. A manager sees things from a different perspective than the band/artist (the "big picture"), and helps to devise a master plan that the band or artist can follow in order to achieve their goals, while overseeing their career on the day to day level as well.

A personal manager advises and counsels talent and personalities in the entertainment industry. Personal managers have the expertise to find and develop new talent and create opportunities for those artists which they represent. Personal managers act as liaison between their clients and both the public and the theatrical agents, publicists, attorneys, business managers, and other entertainment industry professionals which provide services to the personal manager's clients.

Picture a wagon wheel. At the very center is the axle. The axle is the performing artist around which everything revolves. The hub protects and supports the axle. That is the personal manager. The rim of the wheel is the artist's career which travels on what can often be a bumpy, long, winding road. Connecting the hub with the rim are many spokes which give the wheel support in different directions. These are the agents, publicists, attorneys, business managers, and other industry professionals which support an artist on the road to success. When the wheel is well constructed, the artist's journey can be smooth, speedy and successful.

A personal manager is responsible for everything and anything that enhances the development of a performing artist's career. From simple staging suggestions, to complex negotiations, to long term career plans, a personal manager lives the artist's career every day behind the scenes. The manager's commitment to and involvement in the artist's career is one hundred per cent. The personal manager is the driving force breaking through the barriers of frustration and difficulty so often encountered in the entertainment industry. A personal manager is the person who believes in and keeps fighting for a artist when all others have given up. A manager is usually able to make difficult decisions without taking things personally. A manager plays an extremely important role in negotiations because they understand the long-term goals of the artist and can make sure that all contracts that are offered address the long-term needs of the artist, even when an attorney is involved. A manager plays a very important role in corresponding with record labels, publishers, booking agents, publicists, music media, and promoters, and in making sure that things get done on time and in the manner promised and are kept professional.

An artist can easily get lost in the shuffle on a large record label roster, especially if the A&R rep that signed them is no longer with the company. The manager helps keep everybody exited about the artist, including label promotion departments, distributors, radio promoters, publicists, booking agents, concert promoters, media personnel, etc. With responsibilities like that, it is important a personal manager have a wide range of experience in the entertainment industry. Professional personal managers are also well informed on industry practices, standards, and regulations. Plus, managers are alert to the constant changes affecting the entertainment industry. Only with experience and by keeping up to date can a personal manager benefit artists the best.

A manager is not automatically an attorney, producer, publicist, publisher or record label, even though they sometimes perform functions that are similar in nature. If, separate from being a manager, they also happen to be an attorney, producer, publicist, publisher, or record label, then they should wear the different hats according to the different roles, and not merge them all under the umbrella of "management". This multiple-role scenario can sometimes present a "conflict of interest", since part of the manager's job is to help the artist decide which attorney, producer, publicist, publisher, label, etc., they should sign or work with. An individual (in California, New Jersey and New York, and other states for instance) must be licensed by the state to be a Talent Agent, which is a separate function from that of a artist manager. 

The manager plans with the artist career goals and outlines an aggressive campaign for achieving them, develops promotional materials, and the artist's image, often directs the artist's booking agent to help ensure more effective gigs or touring and routing (The manager does not do any booking himself), negotiates or oversees the negotiation of various contracts, hires the artists support team and supervises them (road crew, sound and lighting, accountant and lawyer etc.). actually, artist management consists of anything that will help enhance or further an artist career. This can range from comprehensive career planning or complex contract negotiation to suggesting lyric changes in a song, suggesting different lighting for a show, a new hair style, clothing or commenting on a new recording. The personal manager is the alter ego of the artist, the part of the artist the audience never sees. The manager is a planner, adviser, organizer, strategists, overseer, manipulator, coordinator, detail person, traveling companion at times and the artists best friend sharing an intimacy with the artist no other member of his team has. The manager's involvement in the artist career should be total in scope as this is crucial to the artist success, as the manager is the only other individual besides the artist, who gets to see, work with and  touch all the jigsaw pieces that fit together to create the artist career. In the final analysis the real role a manager plays in an artist career is directly related to the needs of the artist, the capabilities of the manager, the ability of the artist and the manager to learn and grow together, and what both of them are willing and able to bring  into the relationship. Probably the closest analogy is that of a good marriage. To succeed it takes a lot of hard work not just on the managers part but on the artist part as well along with a willingness to communicate, compromise, learn, and change as the relationship of artist and manager grows and new challenges and goals are presented. Above all the artist manager relationship requires a strong sense of mutual trust and respect as well as the ability to see things as they really are not necessarily as we would like them to be.

If you think you are starting to get a handle on the what and how of management, consider a few more essentials to fold into the equation. The best artist managers, just like the best business executives, are planners. They are also catalysts that make things happen: movers, motivators and communicators who work with record companies, producers, agents, promoters, publicists, lawyers, accountants, press, fans, and anyone else with a stake in the artists career. The objective is to make sure everyone pulls together with effectiveness and enthusiasm to make the artist shine the brightest in a sea of stars. If that sounds like a tough order, it is, but just know that the reality of doing it consistently is even so much tougher. Jim Morey, who managers the careers of such diverse artists as Neil Diamond, the Pointer Sisters, and Dolly Parton summed it up: "The artist is the corporation: and the manager is the CEO". Just because a personal manager does so many things to say what a personal manager does is a difficult question. A good way to understand is name association. When one thinks of Elvis Presley, Col Tom Parker comes to mind; the Beatles, Brian Epstein; Tom Jones and Engelbert Humperdinck, Gordon Mills; John Denver, Jerry Weintraub; continue ad infinitum. Who are Parker, Epstein, Mills, Weintraub, all personal managers! The one person the artist relies on for overall guidance in all areas of their career - the manager.

WHO NEEDS AN ARTIST MANAGER

"Why do I need a manager?" is a question posed by artist all the time, especially those artist inexperienced in the realties of the music business, who would like to avoid the cost of paying a manager and an agent their commission. " Well maybe you don't need a manager, however you sure need management". the two aren't necessarily the same thing.

Not every artists career is complex enough to merit a full time personal manager, but every artist's career demands at least as much management as there is talent if the artist is to have any kind of chance of making it in the music business or achieving any real success.

If you don't believe that, take a look at the music business. What stands out is that today more than ever before the music business is a lot more business than music. Just look at who owns the major record labels, publishing and media companies. Warner Communications, Sony Inc, General Electric, Disney, and MCA are a few that quickly come to mind. Theses familiar names conjure up images of earnings per share, return on investment, quarterly earnings, and hostile takeovers. You can rest assured that these and the other major entertainment industry players are in it for the money.

If you still have doubts, just ask any record executive who has been fired for not meeting his corporations growth projections. It happens often despite their being acclaimed for having a great ear, a pulse on things to come, or a sensitivity for knowing how to get the most out of a artist in the studio. Sure those are all things that are important, but if the bottom line isn't there, that record executive becomes quickly expendable in favor of someone who can get the job done, and that job is making lots of money for the company.

As an artist or a manager, it is that record company executive that you have to impress to get a label deal. Today that can mean a commitment by the record company of a half million dollars or more to cover recording costs, video production, tour support, promotion, etc. etc. etc. Have no doubt that the record company executive who green-lights your deal expects to recoup all those expenses and a whole lot more in gross profits that will allow the company to meet its quarterly income targets and provide a healthily bonus for him as well as some extra job security. If the record company exec harbors any serious doubt about your ability to recoup the company's investment and turn a nice profit, they will be looking at the next artist before the days over. 

Getting the picture?

The high stakes risks associated with breaking a new artist, or keeping an established artist on the top is precisely why talent alone is never enough. That record executive has lots of talent to choose from, but not enough artists and managers capable of doing all the big and really little things that spell successful artist management. More specifically, that record company exec wants an artist who sets goals, who plans, who executes, who follows up on even the small details. He wants someone capable of interacting effectively with a unending stream of producers, agents, publishers, promoters, publicists, program directors, roadies, lawyers, bankers, accountants, and fans all competing for the artists time. the record company exec wants someone with enough drive and discipline to return phone calls, sign autographs, do interviews, be knowledgeable, deal with the endless details that can't wait until tomorrow and still have enough energy left to put on a really killer concert or do as many studio takes as are necessary to get the recording right. A big part of that picture is management, without it, the reaction to your demo will likely be "PASS" can you blame them? There's a lot at stake. If you as a artist can very effectively handle these management-related responsibilities, and still have time to write perform etc. have no need for any professional guidance or business contacts,  then by all means do so and save that artist manager's commission. There's no sense in paying someone else to do what you can do just as well yourself. However if you can't do it all maybe you need a manager!

HOW SOON SHOULD I HIRE AN ARTIST MANAGER?

About the time an artist decides they wish to make music a career and discovers he can earn money doing it, is the time to consider hiring a manager. Stars are not born overnight, building a career in the music business takes lots of hard work, planning, organization, time, and talent. Starting with a less experienced manager earlier on allows the manager and artist to develop and grow together, building a solid bond and establishing trust early on. I happen to think this is one of the better approaches to hiring the artist manager, but there are lots of differing opinions regarding when exactly an artist needs a manager, they generally fall into three areas

1) As early in the artist's career as possible.
2) Later on in an artist's career, at the point when the artist cannot get any further by  themselves or when the workload is too great and additional help is needed.
3) Never. An artist can do without a manager.

Depending on where you are in your artist career as well as your philosophical outlook regarding managers, one of these three schools of thought will initially appeal to you as an artist.

Let's take a look each one. 

1) Management - As early in the artist's career as possible.

If you are highly disorganized, lack a general business sense, find it difficult to focus on long term goals or be consistent, hate to read music books, lack financial resources, have had very little success on your own, and know very little about the music business, you should probably seek management as early in your career as possible. You will need a manager very early on in your career to develop a game plan for you so that you can avoid making mistakes that may be difficult or impossible to undo later. 
 

For this option to work, however, the manager you seek should absolutely LOVE your work, be honest, committed, patient, organized, hard working, and knowledgeable about all aspects of the music business. This manager will probably have some first-hand experience in the business and much of their knowledge will be gathered from previous management deals, reading most (or all) of the music business books and resources, getting information online, asking questions on forums, talking to industry personnel, attending seminars and conferences, etc. 
 

They will probably not have extensive high-level contacts in the business or a major label-related track record to speak of, but they should have the drive and determination needed to expand their network of contacts quickly.

They will (or at least should) have a steady source of income (either from other acts or another job) and be willing to work with you for quite some time without the expectation of a commission (even though one is provided for in the Artist / Manager Contract). Your understanding should be a contract spelling out the details of the relationship. Keep in mind that in the early stages of your career, most "A-level" managers will not be interested in an artist who isn't signed (or about to be signed) to a major record label or publishing company. 

#2) Management - Later on in an artist's career, at the point when the artist cannot get any further by themselves, or when the workload is too great and additional help is needed.

If you are highly organized, business oriented, find it easy to focus on long term goals, love to read music business books, have some financial resources, have had some musical success on your own, and know a lot about the music business, you should probably self-manage to begin with and seek management later on in your career when the workload becomes too great and you have gone as far as you can go alone or when a major record label deal is pending.

Many A-level managers prefer that artists wait until later on in their careers before signing with a management company (preferably theirs and usually when a major record deal is pending).  Naturally, they would prefer that you don't sign with any management companies until they are interested in signing you. It is important to remember, however, that most of these A-level managers won't want to sign you unless a major label deal is pending or already under way. Besides that, there aren't enough of these managers available to sign every single one of the thousands of artists that deserve to be signed at that level. 
 

Waiting to sign with a manager later on in your career can present some other problems. One problem is that unless you are extremely organized, committed, and well-read, you are likely to make many mistakes on your own since there is nobody around to play "devil's advocate" with you on ideas and strategies. Yet another problem is that down the road, you will tie the hands of the manager with any bad decisions that you have already made, including image development and your "sound" as an artist, as well as all deals that you have already signed (recording, publishing, licensing, merchandising, etc.). A manager may be unable to get you out of any bad long-term deals you may have signed without their counsel (read "career", not "legal").

#3) Never. An artist can do without a manager.
 

Some artists (especially those that have either had a bad management experience themselves or have heard of someone else who has) believe that an artist can do without a manager. It is possible (and doable), up to a certain point, to conduct your own affairs without employing the help of a manager. 
 

It is important, however, to recognize that many industry professionals prefer to speak to a manager instead of directly to the artist. Part of the reason for this is that artists are likely to take things very personally in one-on-one discussions with industry people. Many artists see things from an emotional point of view when the discussion is being framed in business terms and can't separate themselves as human beings from their music as product. In addition, some record label A&R reps prefer to see a committed team of professionals (e.g. manager, attorney, promoter, publicist, and booking agent) surrounding the artist, since this indicates the presence of a well-organized team that makes an investment of millions of dollars seem less risky. 
 

It is much easier for a manager to play "bad cop" in situations where a deal has to be re-negotiated or turned down. The manager can act as a buffer in many instances and force people to go through them in order to reach you. That way, scam artists are less likely to present managers with shady proposals. There is also not enough time in a day for an artist to do everything by themselves. 
 

All-in-all, a well-connected, knowledgeable, and honest manager can be an indispensable asset to an artist under the right circumstances.

THE QUALIFICATIONS OF A MANAGER

Now that you have a good idea of what a manager is, does, and when to hire him, lets turn to the next obvious question, "Who can be a manager?" the answer is really simple "anybody" Some universities have recently started offering courses on the music business, but there are few requirements or qualifications if any a artist manager must meet. On the whole artist management is open to anyone interested in getting involved.

 Often a die hard fan, friend or relative may serve as the artist manager rather than seeking someone whom he has not had a prior relationship. This is understandable, but it may not be the best career choice for the artist career. Often a friend or relative while being well meaning will not have the qualities, knowledge, experience, or contacts to provide a professional level of management to the artist. There is also a real danger that because of the close personal relationship, a friend or relative will not stand up to the artist and say no when firmness and objectivity are required. A " Yes"  man may be a asset to the artist ego, but is of no value in meaningful career develop. This is not to say a friend or relative may not prove up to the challenge, but consider their strengths and weaknesses carefully before committing to this choice. remember that record executive its business first for him and it must be for you as well.  Keep in mind the many area's of involvement in the managers career and the best qualities for the job at hand. A good manager will be organized, professional, knowledgeable, able to develop and implement a game plan for the artist and to oversee all areas of the artist career at the same time.

MANAGER COMPENSATION  

Managers are normally paid on a commission basis. Managers currently charge around 20 to 25% of the artists gross income, that is your total income before your expenses are deducted. Your booking agents commission is considered an expense, therefore your manager's commission is in addition to the agents commission. On the average your manager will probably agree to 20%, but the wider the range of services the manager offers  the more you should expect to pay. The artist may be required to pay reasonable expenses incurred on their behalf such as phone bills, mailings, promotional materials, etc. The terms of compensation should be clear in the artist management contract.

FINDING A MANAGER

Perhaps you've begun to attract some local attention and are considering making a recording. Perhaps your finding it more difficult to keep up with things and you wish you had someone to offer advice about your next career steps. Once you've decided that you are ready for management, there are several ways you can find a manager. You should first take stock of what you have to offer (besides your talent). It helps to have a good idea about yourself and your style. Don't expect managers to be able to perform an assortment of miracles all by themselves. You have to come to the table with some elements in place and be willing to work hard to formulate the rest. A manager can help you articulate your vision, find others that believe in you, and get you into the hands of interested and successful music industry professionals.

Once you are sure you have something to offer, you can ask club owners, attorneys, publicists, recording studio engineers, record producers, independent record label owners, and other artists that are signed if they have any management company recommendations. You can also find a list of managers from music industry print directories (e.g. the Musicians Atlas, the Indie Contact Bible, the Industry Yellow Pages, Pollstar, the Recording Industry Sourcebook, etc.) or online directories like the one at the Indie Managers Association and others.  Check with friends and other musicians for leads. 
 

Pay close attention to the submission policies of the management company before mailing anything out. Some managers will only accept solicited material (material submitted to them from known sources). Others are willing to accept unsolicited materials, while still others prefer you to call or email first. Do not violate these policies. It is almost always a good idea to call or email first before you send anything (unless they tell you not to call or email first). Contacting them before you send materials gives you a chance to talk to somebody and find out what they are looking for and what materials will be most appropriate to send. 

WORKING WITH A MANAGER 

The manager-artist relationship is a very important one, and you must be sure that a manager is the right fit for you (and vice-versa). Many times, a manager will approach you before you get a chance to approach them. This is not necessarily a bad thing, since it makes sense that you came to their attention by creating a buzz in your area, selling a lot of CDs, receiving radio airplay or great reviews, or putting on a great live show. If this is the case, they may know a lot about you and ask a lot of questions. 

Be wary of managers that don't ask a lot of questions about you, your goals, and your achievements. Don't be offended by these questions, since they only serve to identify areas of opportunity or career challenges that the manager should know about.

A sign of a good manager is that plenty of dialogue will take place before a contract is offered and signed. You should spend a lot of time discussing your short and long-term career goals and seeing how the manager can help you achieve them. You should ask what ideas they have to get you where you are trying to go. You should try to get to know each other and get a feel of how you will work together. You should also check to make sure that the potential manager doesn't have too many artists on their roster, and that they will have enough time to devote to your career.

A potential manager should like your type of music and be familiar with how an artist like you is promoted and marketed. It is extremely important to find a manager that is the right fit, and if you can't find one, you are much better off managing yourself until the right one comes along. 

Good managers are always in high demand and not easy to find.

If you find a manager that seams to fit the bill be sure you are compatible with each other before signing a long-term agreement you will be working very closely during the course of your relationship together. The average artist management contract is usually between two and five years in length.  Only accept friends, friends-of-friends, family members, etc., as potential managers if they have some experience in managing artists in your genre, have some industry contacts, and know how the music business works. These people are often well intentioned, but can cause more harm than good with what they don't know. In summary it is the manager's responsibility to work with all the various persons already mentioned in the coordination of their respective functions as they relate to the artist. The manager should be viewed as the artists personal representative, authorized to act in his behalf when dealing with these and all others in the entertainment industry.

When the artist negotiates with prospective managers, its important to discuss exactly what the artist expects the manager to do and what is not expected from the manager. Each party to the artist/manager relationship must understand the role of the artist and manager and the expectations shared by both. A clear understanding of these points is an absolute necessity to any meaningful and lasting professional relationship.

THREE SIMPLE BUT PROFOUND PRINCIPLES OF SUCESSFUL ARTIST MANAGEMENT

1) Talk is substantially more plentiful and far less effective than action.

2) You can never know enough people in the music business, unless they have a bad opinion of you then one is too many.

3) No one has yet to come up with a satisfactory substitute for talent, hard work, imagination, and persistence.

THE AGENT

The booking agent as mentioned is often confused with the manager. The competent agent finds out which buyers need acts, when they need them, and under what kinds of budget constraints. The good agent is familiar with  all venues in his area and works closely with other agents in areas outside of his coverage to employ his artists. It is the agents responsibility to negotiate and issue booking agreements or contracts, collect deposits, send out promotional materials, and plan a sound tour route. An agent may also set up press and other media interviews, and make road arrangements depending on your agreement with him and if you have a road manager or tour manager. Although agents may perform some managerial functions and vice versa it is best to understand and define your needs before entering into any agreements.

A band just starting out needs to keep working. Trying to get gigs for yourself or your band can be about as much fun as paying taxes...Well, maybe not THAT much.
The fun part is when you get your phone bill. The cost of promotional materials, mailings, etc. That's when you realize why the booking agents charge about 15 to 20% for their services. Getting the phone numbers to the club, finally getting someone on the phone, (just to find out that you're not calling the correct number for bookings,) calls regarding production, more calls to get info on media, radio stations and anything else can put you into MA BELL kind of deep, not to mention the time and effort involved. Establishing connections and knowing the market is the name of the game.

That's what the booking agents are charging for, the information and the contacts.
It takes years to cultivate the relationships and info required to adequately approach the brick wall of booking a band, not to mention knowing what to say once you get the booking person on the phone.

If you have ever tried to book your band yourself, you've probably found out that there's more to it than just calling some club and asking for a date. It used to be that a band could make a few calls, throw their shit in the truck and tour the country making anywhere from $100 - $200 per night just because they were a band willing to travel.. NOT ANY MORE!

AGENT COMPENSATION

Agents are normally paid on commission, as mentioned the going rate is around 15 to 20% of your fee, or sometimes they will charge their expenses for phone calls and mailings, etc. plus a fee if you have a low earning potential. Payment is usually made in one of two ways. If there is a deposit, it is normally one quarter to one half your fee, and the agent will deduct his fee from the deposit after the gig is played and the band gets the balance of the deposit plus any remaining monies due from the club after the gig.. If no deposit is involved you may send a check to your agent after each gig, tour, or on a weekly, monthly basis as agreed upon when signing with the agent.

FINDING A BOOKING AGENT

At this point your band should have a good idea of the kinds of places you want to play at, and the type of gigs your interested in, but you may not have the experience, the time, or the contacts to get those gigs. That's what the booking agent is for. Once you are working on a regular basis, it should build the bands confidence, helping to keep everyone committed to the band and to focus on larger goals.

Until you start to develop a reputation and have played a reasonable number of gigs it may be hard to find a booking agent interested in working with you, but begin by looking in music related publications, on the Internet, alternative papers, the phone book, and word of mouth. Many of the best agents and managers do not advertise as they are already busy and that's a good start. Talk to bands a step or two ahead of your level and inquire about their agents, are they happy with them and do they get good gigs. Be sure to find an agent that handles the type of music you are performing.

When your band is ready to meet with an agent appoint a band spokesman to make contact with the agent, offer a complete your promo package with a CD or tape, bios, pictures, press reviews, and any other relevant materials and ask when you can check back to see if the materials were received and reviewed. Be sure to find what services he performs, what his fee is, and if he works on an exclusive or non-exclusive basis. (whether he will be your sole agent or you can hire additional agents to work with you). If you are unsuccessful in obtaining an agent at first you might want to consider hiring an enthusiastic friend or loyal fan whom you can train to do your booking. 

At this point your band should have a good idea of the kinds of places you want to play at, and the type of gigs your interested in, but you may not have the experience, the time, or the contacts to get those gigs. That's what the booking agent is for. Once you are working on a regular basis, it should build the bands confidence, helping to keep everyone committed to the band and to focus on larger goals.

DISCLAIMER:  This information is offered as an educational and informational tool only, and should not be relied on as legal advice. Applicability of the principles discussed may differ substantially in individuals situations. If you need specific legal advise you should consult an attorney.