Whether you are getting ready to start your own business, or if you are purchasing an existing business, the structure you choose for your entity impacts your taxes and your ability to pass-on your business’ assets to your heirs. One of the best things you can do when you are planning your business is to speak with a skilled estate planning and business law attorney.
We provide a range of business planning services. Our attorneys work closely with our clients to select the proper entity, including advice and guidance on:
- Drafting and Filing Articles of Incorporation
- Designing Partnership Agreements
- LLC and LLP Formation, including Family Limited Partnerships
- Non-Profit Organization Formation and Charitable Tax Planning
- Minority Owned Businesses
- Buy-Sell Agreements
- Loan Agreements
- Promissory Notes
Corporate & Nonprofit
Owning your own business requires maintaining an estate plan that preserves and passes on the rewards of your hard work. Through business succession planning and family partnerships, we will develop a plan for the protection of your business as a component of your complete estate plan, and help you minimize your tax liabilities whenever possible.
As our business client, you will benefit from our Law Firm’s ability to provide business and tax planning services in conjunction with estate planning services. Many estate planning attorneys do not provide business or tax services, and many business and tax planning attorneys do not provide estate planning services. Mulkey, Forbes, Reid & Barton, PLC provides all of these services to ensure our clients receive the most comprehensive business and estate planning.
Our experienced attorneys also help clients with the following matters:
Creating a LLC, or Corporation, is part of our practice. We not only create the requested LLC or Corporation, we assist you with unparalleled advice regarding how to manage your entity to protect your other assets from the threat of lawsuits. Our corporation and LLC creation system is complete and customized to your needs.
This entity is useful for estate tax planning purposes as well as asset protection purposes. Many of our clients manage multiple real property parcels and can benefit from the estate tax discounts which are available through a properly establish FLP. It is important to discuss the suitably of various assets for this entity with your estate planning attorney because it cannot contain any personal assets.
Substantial tax benefits can be obtained by properly planning for charitable entities, such as Charitable Remainder Trusts and Charitable Lead Trusts. If you own assets which have highly appreciated, and if sold will cause a significant capital gains tax, you may benefit by creating a charitable trust and avoiding the capital gains tax, as well as any associated estate taxes relating to that asset. A tax saving opportunity will also give you the control as to how your money is used by the charity. Failing to properly plan will mean that you left the decision of how your money is to be used in the community to the IRS.
We assist entrepreneurs and venture capitalists to organize as a Limited Liability Company (LLC) or Corporation. Our services include drafting of foundational documentation, document filings with the State Corporation Commission, serving as Registered Agent and assistance with annual or special meetings.
We work with faith-based charities and startup churches to organize as Virginia Non-stock Corporations and provide assistance in completion of documentation to establish 501(c)(3) status with the I.R.S.