Virginia Business Succession Planning

A successful business is more than a source of income—it’s a legacy. Whether you own a family business, professional practice, farm, rental property portfolio, or growing company, planning for leadership and ownership changes is essential. Business succession planning ensures your hard work transitions smoothly, minimizes tax burdens, and protects your family, employees, and partners.

At Tarris Law, we help Virginia business owners plan and execute strategies for transferring, selling, or winding down their businesses. With offices in Lexington and Roanoke, we serve clients throughout the Commonwealth, including Rockbridge, Botetourt, Roanoke, Augusta, Montgomery Counties and surrounding cities including Lynchburg , Lexington and Salem.

• Protect Your Legacy: Without a plan, businesses risk disruption, disputes, and loss of value.
   
• Minimize Taxes and Costs: Proper planning can reduce estate and capital gains taxes.
   
• Avoid Conflict: Clear agreements prevent misunderstandings among heirs, partners, and employees.
   
• Prepare for the Unexpected: Illness, disability, or sudden retirement can happen—planning ahead ensures continuity.
   
• Maximize Value: A well-structured exit strategy can attract buyers, investors, or key employees.

• Ownership Transfer Strategies: Family transfers, sales to third parties, employee or partner buyouts.
   
• Succession Plans for Professional Practices and Small Businesses: Tailored solutions for law practices, medical offices, farms, contractors, and entrepreneurs.
   
• Buy-Sell Agreements: Drafting or updating agreements to handle death, disability, or withdrawal.
   
• Business Entity Review: Evaluating LLCs, corporations, or partnerships for transition readiness.
   
• Coordination with Estate Planning: Integrating trusts, wills, and tax planning to protect your personal and business assets.
   
• Ongoing Counsel: Support before, during, and after the transition, including disputes or regulatory filings.

I offer direct access and personal attention. I know how important your business is to your family and community. Whether you’re preparing for retirement, grooming the next generation, or planning for an eventual sale, I provide clear, actionable guidance rooted in Virginia law and local market knowledge.

• Family-owned and closely held businesses.
   
• Professionals, farmers, and investors planning for the next chapter.
   
• Entrepreneurs seeking to build value for a future sale.
   
• Owners with multiple properties or rental businesses who need cohesive planning.

From Lexington and Roanoke to Lynchburg, Blacksburg, Staunton, Charlottesville, and surrounding areas, I work with clients statewide and across many surrounding counties and cities. Meetings are available in-person, by phone, or by secure video conference.

Succession planning is best done early, before unexpected events create stress or loss of value. Let’s discuss your goals and create a plan that protects what you’ve built.

Call 540-319-4111

or Message Us Here