Coates & Davenport, P.C.

March 2019 Archives

Buyouts could be profitable opportunities for Virginia businesses

Business owners in Virginia may spend many years cultivating their enterprise. However, sometimes an opportunity to transfer ownership of the business presents itself. This is known as a "buyout." A buyout is a transaction under business law in which ownership of a business is transferred to one or more individuals or another business. An offer for a buyout may be something a business owner wishing to sell his or her business seeks, or it could come as a surprise from an interested buyer. There are a variety of types of buyouts that Virginia business owners could be presented with or seek out.

Keep retirement in mind when dividing assets in a divorce

Many people in Virginia understand that it is important to plan financially for their future, so they contribute a certain percentage of each paycheck to a retirement account. Some people are even lucky enough to have pensions, and many also count on receiving Social Security benefits to help fund their retirement. However, what happens to one's retirement assets in the event of a divorce? With so much money at stake, especially in a high-asset divorce, it is important that both parties to a divorce walk away with a fair portion of their retirement funds.

Why would I want to include a revocable trust in my estate plan?

People executing an estate plan have a lot of options to consider. One estate planning tool that many people in Virginia find useful is a revocable trust. A person (known as the grantor) can execute a revocable trust but, as the name implies, retains the ability to change the provisions of the trust during their lifetime if they wish. The grantor's assets will be placed in the trust during his or her lifetime. Then, when the grantor passes away, the trust becomes irrevocable and assets are distributed to the grantor's heirs per the terms of the trust.

Should Virginia drug dealers be held responsible if death occurs?

Most Virginians would agree that too many people die because of illicit drug use. They may accidentally overdose, or the drugs could unknowingly be contaminated with other substances. These are very unfortunate situations. However, should drug dealers be charged with murder if the drugs they distributed lead to death?

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Coates & Davenport, P.C.
5206 Markel Road Suite 200
Richmond, VA 23230

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