Virginia Beach Business Succession Planning Lawyer

Protecting Virginia &Hampton Roads Business Owners' Investments & Hard-Earned Wealth

At TrustBuilders Law Group, our experienced lawyers know that your business won’t survive without an able owner or manager at the helm.

That is why we are committed to using our extensive resources and knowledge of the law to help clients throughout the greater Virginia Beach area devise comprehensive succession plans so they are prepared for events like:

• Sudden death
• Illness
• Incapacity
• Retirement

If you don’t want your family and business partners to be left scrambling to find a suitable replacement, then you need to reach out to our firm to get started drafting the legal documents you need to protect your best interests.

If you are a Virginia Beach business owner, don't wait to secure the future of your business affairs. Call us or contact our business succession planning attorneys online today.

What is the Purpose of Succession Planning for Businesses?

The primary purpose of succession planning is to prepare business owners for every eventuality that might impact their operations and investments. You want to make sure that you have a plan in place for not only your heirs but for unexpected occurrences that can greatly impact your business.

Benefits of Business Succession Planning in Virginia Beach

Some benefits of business succession planning include:

1. Avoiding probate and lengthy legal disputes
2. Establishing a monetary value for the business
3. Reducing or eliminating estate taxes
4. Selecting a business entity suited to your unique needs
5. Providing for the transfer of business interests to partners
6. Having a strategy for transfer expenses, taxes, and other expenditures
7. Determine which parties will operate the business

Although business succession planning can be complicated, with our lawyers in your corner, you can feel confident knowing we will walk you through each phase of the legal process to ensure all of your concerns are addressed.

Draft a Customized Business Succession Plan in Virginia

With our guidance and legal counsel, we come up with a smart strategy for passing on the leadership roles in the company and ensuring the transitions go smoothly.

We can walk you through all the necessary steps for a thorough business succession plan, such as:

• Selecting a successor
• Setting goals and objectives for your business
• Communicating your plan to stakeholders or family members
• Contingency planning in the event of death or disability
• Exit strategy and timeline
• Tax planning
• Business valuation
• Retirement and estate plans

Reach out to us today to discuss which legal documents you need for the eventual transfer of your business.

Give us a call today at (757) 500-5135 or contact us online to request your business succession planning consultation with a lawyer at TrustBuilders Law Group.