The Family Legacy Process™

Tag Archives: Business Succession

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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Talk is Cheap

The famous musician Prince died a year ago and the battle over his fortune will not be resolved any time soon.

The question of whether Prince left a will continues to be one of the great mysteries in this soap opera with...

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April 25, 2017

Douglas Davis

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Estate Planning & Administration

attorney, attorneys, Business Succession, Chesapeake, Davis Law Group, death, estate, estate plan, estate planning, executor, Hampton, Hampton Roads, hrva, intestate, Law, lawyer, legal, living will, medical directive, Norfolk, North Carolina, Outer Banks, Portsmouth, power of attorney, real estate, revocable living trust, Suffolk, testate, Tidewater, transfer, trust, va, Virginia, Virginia Beach, will

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Recent Blog Posts

November 19, 2020 3:05 pm
Snowbirds: What You Need to Know about Renting Out Your Property

Retreating to a warmer climate for the winter sounds like an ideal way to spend a few months. To help make this dream a reality, some individuals choose to rent out their second homes when they are not in use.…
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November 12, 2020 1:11 pm
Avoiding Financial Grief: How to Protect Your Significant Other from Frozen Accounts

The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare you for such a loss. However, dealing with the financial stress of frozen bank accounts can increase the stress.…
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