Proactive estate and business planning reduces legal uncertainty, protects beneficiaries, and helps businesses survive ownership transitions. Thoughtful documents like trusts, buy-sell agreements, and powers of attorney clarify decision-making, limit contentious disputes, and reduce tax exposure where applicable, enabling families and owners to focus on long-term financial and operational stability.
By combining trust planning with corporate agreements that outline buy-sell mechanics and voting rights, owners can achieve predictable outcomes when transfer events occur. Clear succession reduces disruptions and preserves the value of the business for remaining owners or family beneficiaries.
Hatcher Legal combines transactional and litigation experience to offer balanced advice that anticipates potential issues and drafts durable documents. Our approach emphasizes clarity, realistic recommendations, and working collaboratively with clients to develop plans that align with family and business priorities.
When administration or disputes arise, we assist with fiduciary duties, accountings, negotiations, mediation, and if necessary representation in court. Our aim is to resolve matters efficiently to preserve asset value and reduce emotional and financial strain on families and businesses.
A basic estate plan typically includes a will to direct asset distribution, a durable financial power of attorney to authorize financial management, and an advance medical directive or living will for healthcare decisions. Adding a revocable trust can avoid probate and provide seamless asset management during incapacity and after death. Creating these documents involves inventorying assets, naming beneficiaries, and designating trusted decision-makers. We recommend discussing family dynamics and goals during the initial meeting to tailor documents appropriately and ensure beneficiary designations and titling are consistent with written plans.
A will is effective only after death and directs distribution of probate assets, while a trust can manage assets during life and at death, often avoiding probate and enabling continuity if incapacity occurs. Revocable trusts provide flexibility and privacy, whereas certain irrevocable trusts can offer creditor protection or tax planning benefits depending on circumstances. Choosing between a will and trust depends on asset complexity, privacy preferences, and whether probate avoidance or specific management during incapacity is desired. We evaluate each client’s situation to recommend the most appropriate structure.
Shareholder and operating agreements should be created at formation or when new owners join to set governance, voting rights, transfer restrictions, and valuation procedures for sales or buyouts. These agreements reduce uncertainty by defining roles, capital contributions, and dispute mechanisms, helping prevent disruptive conflicts. If a business lacks written governance, owners should prioritize creating such agreements promptly to protect investment value and provide a roadmap for predictable decision-making.
To prepare for incapacity, clients should execute a durable power of attorney for finances and an advance medical directive to specify healthcare wishes and name a healthcare agent. These documents avoid the need for court-appointed guardians and provide legal authority for trusted individuals to act when required. We guide clients in selecting agents, drafting clear instructions, and ensuring documents comply with Virginia signature and witness requirements to be effective when needed.
Probate in Virginia generally involves filing the will with the local circuit court, providing notice to heirs and creditors, inventorying assets, paying debts and taxes, and distributing remaining assets under court supervision. Trust administration may proceed outside probate if assets are properly titled in the trust, but trustees must follow trust instructions and fiduciary duties. Our role is to assist fiduciaries with filings, accountings, and creditor resolutions to complete administration efficiently and in compliance with legal responsibilities.
Separating personal and business assets by creating a limited liability entity and maintaining formal records can reduce personal exposure for business liabilities. Proper entity formation, insurance, clear contracts, and adherence to corporate formalities help preserve liability shields. We also advise on contractual protections, indemnification provisions, and structuring ownership to support continuity and minimize risk of personal creditor claims affecting business assets.
A buy-sell agreement defines what happens when an owner leaves, retires, becomes disabled, or dies by establishing valuation methods, transfer restrictions, and purchase terms. It provides liquidity solutions for remaining owners and prevents involuntary outsider ownership changes. For closely held businesses, a buy-sell agreement clarifies obligations and timelines for ownership transfer, reducing uncertainty and preserving business continuity during ownership transitions.
Review estate and business documents after major life events such as marriage, divorce, births, deaths, wealth changes, or business reorganizations, and at least every few years. Regular reviews ensure beneficiary designations, titling, and corporate documents remain aligned with goals. We recommend scheduling periodic reviews to account for changes in family composition, assets, or business interests and to update documents accordingly.
Mediation can be an effective way to resolve family and business disputes by facilitating negotiation in a confidential setting and preserving relationships. It often reduces costs and emotional strain compared to litigation and can produce customized agreements. When mediation fails, structured dispute resolution clauses and litigation remain options, but mediation is frequently recommended as a constructive first step to preserve value and reduce adversarial consequences.
To begin, gather basic information about assets, business structure, existing estate or corporate documents, and any family or ownership concerns. Contact our office to schedule a consultation where we will review objectives, outline options, and provide a clear engagement plan. We explain anticipated timelines and fees and suggest immediate steps to protect assets while the planning process proceeds.
