Business law entails advising the client on the creation, management and eventual sale or succession of a business. The law firm of J.S. Burton, P.L.C. assists entrepreneurs by forming the proper corporate entity to achieve their dreams. In addition, the firm represents small to medium sized businesses with asset purchases, stock company sales, employment and consulting arrangements, buy-sell contracts and shareholder agreements.
Business Creation and Succession Planning Involves Balancing the Business Needs of the Present While Focusing on Effective Wealth Transfer By:
- Creating a Business Entity that is Uniquely Tailored to the Client's Goals and Dreams
- Analyzing Business and Estate Planning Data in Conjunction with Other Advisors
- Developing Business Tax Strategies
- Ensure Successful Implementation of the Final Plan
- Obtaining Protective Trademarks
Lawsuit & Asset Protection
In today's litigious world, you've never faced greater threat from predators who will try to use the legal system to deprive you of your life's work. These legal battles can be devastating and, even if you prevail, can cost you everything you've taken a lifetime to build. J.S. Burton can help with strategies for safeguarding your business assets.
Holding real estate in a business trust can provide optimal asset protection for multiple properties under ONE document. Generally, the document is comprised of separate and distinct "series" or "classes" of ownership interests. Each series is like a sub-trust within the trust and each holds the separate assets and liabilities assigned to that series. The key advantage of this structure is that liability is "quarantined" from the assets in the other series and from the trust as a whole. This means that any claims that arise from the ownership of an individual property (e.g. a tenant suing you as the landlord) cannot normally be satisfied from assets outside that series. Properly structured, a single legal entity holds multiple properties, each protected from liability as though each property were held in its own, individual legal entity. The Business Trust essentially does away with the need to form numerous limited liability companies to protect more than one piece of real estate.
A “buy-sell” agreement is perhaps the most important document in outlining the relative roles and rights of business ‘partners”, insuring smooth relations over a long period of time and attempting to maximize long term personal and business planning strategies. A buy-sell agreement is a contracted agreement between the owners of the business, intended to protect the business, which outlines the measures to be taken in the event that one of them dies or there are other changes or desired changes in ownership of the business.
Buy-sell agreements are frequently discussed in the context of a corporation. However, they are as equally important and applicable to other forms of business enterprises such as limited liability companies and limited partnerships.
Two Popular Types of Corporate Structures
Family Limited Partnerships
A Partnership between two or more family members designed for a business purpose. This entity can help you meet such goals as tax savings, protection from lawsuits and savings on estate taxes.
Limited Liability Companies
An entity formed by one or more persons for a business purpose. Tax-advantaged status and liability protection are the hallmarks of this legal tool and are well suited to hold and protect real estate.
Contact the Virginia Beach, Virginia, law firm for comprehensive legal assistance with your business law matter.
Principal Attorney, John Schul Burton, has extensive legal experience in relation to business:
- Created and advised on a start-up company that provides networking and I. T. services for a major tourist destination;
- Represented a medium sized, local optometrist and ophthalmologist corporation concerning asset purchase, consulting and buy-sell agreements;
- Handled the sale of three national ice cream franchises situated in the Hampton Roads area;
- Counseled the seller of a major audiology company involving the sale and transfer of stock to a new owner and shareholder;
- Advised the buyer and structured the purchase of two nationally known restaurant franchises;
- Successfully represented the structured sale of a long standing construction company from one shareholder to another;
- Formed a limited liability company and related employment agreements for a national uniform supply corporation;
- Represented a national advertising and public relations firm on various restructuring matters;
- Obtained a protected legal trademark for a logo used by a clothing company which has current contracts with various national surf shop outlets and professional athletes.