The Family Legacy Process™

Tag Archives: Business Succession

12 Things You Need to Know About Buying or Selling a Small Business

12 Things You Need to Know About Buying or Selling a Small Business

When buying or selling a business there are many issues to consider and ultimately resolve in order to ensure that both parties receive what they have bargained for.

Every transaction is unique and will require the assistance of your attorney, CPA and other trusted advisors, but at a minimum, the following should be considered:

Confidentiality/Non-Disclosure Agreement When entering...

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June 30, 2021

Douglas Davis

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Business, Business Planning, Business Succession

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Can Your Business Survive the Loss of a Key Person?

Can Your Business Survive the Loss of a Key Person?

Maybe you’ve protected your business with general liability coverage, property insurance, commercial automobile coverage, and workers’ compensation insurance.

But for some businesses, operations would come to a grinding halt without certain essential contributors—key persons as we call them. If your business includes any key persons then key-person insurance should be a part of your business insurance...

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June 12, 2019

Douglas Davis

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Business, Business Planning, Business Succession

757, attorney, business, business attorney, business insurance, business law, Business Succession, Chesapeake, corporate attorney, corporate law, corporation, Davis Law Group, Hampton Roads, hrva, key person, key person insurance, Law, lawyer, legal, llc, Norfolk, Portsmouth, S corp, southeastern virginia, Suffolk, Tidewater, va, Virginia

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5 Steps to Take When Winding Down Your Business

5 Steps to Take When Winding Down Your Business

There are many reasons business owners close up shop, including retirement, starting a new venture or, hopefully, because they’ve won the lottery.

No matter what the reason, it’s important to diligently wind down a business before moving on.

This process can be emotional and overwhelming, so here are five steps to take to start moving toward your...

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August 14, 2018

Douglas Davis

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Business, Business Planning, Business Succession

757, attorney, business, business documents, business law, business planning, Business Succession, Chesapeake, closing a business, corporate law, corporation, Davis Law Group, Douglas Davis, Hampton Roads, hrva, IRS, lawyer, legal advice, llc, Norfolk, Portsmouth, S corp, southeastern virginia, succession, Suffolk, Tidewater, va, Virginia, Virginia Beach

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What Happens to Your Business When You Die?

Preparing your company for your incapacity or death is vital to the survival of the enterprise.

Without a plan in place your customers, employees, vendors and even your family can be negatively affected and the future...

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March 14, 2018

Douglas Davis

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Business, Business Planning, Estate Planning & Administration

advice, attorney, business, business after a death, business estate planning, business planning, Business Succession, Chesapeake, corporate, Davis Law Group, Douglas Davis, estate, estate planning, financial planning, Hampton Roads, hrva, Law, lawyer, legal, Norfolk, Portsmouth, southeastern virginia, southside, Suffolk, Tidewater, tips, trust, Virginia Beach, will

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Recent Blog Posts

July 15, 2021 12:17 pm
What You Need to Know About Business License and Permit Requirements

If you are starting a new business, there are so many things to consider and think about. But it’s important, in the midst of all of this, not to overlook federal, state, and local business license and permit requirements. Almost…
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July 8, 2021 1:21 pm
6 Critical Things You Should Have at Your First Estate Planning Meeting

If you are thinking about putting together an estate plan, it is important to consult with an attorney who is knowledgeable and experienced in this area of law. Your initial meeting with an estate planning attorney is a good opportunity…
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