If you were suddenly unable to work for 90 days, or ever again, who could sign checks, run payroll, talk to your clients and keep the doors open? For many Texas business owners, the honest answer is that no one has the legal authority to do it.
Check each statement that’s true for you today.
Many owners have a will and an LLC and assume they’re covered. But:
If you’re incapacitated, your will can’t authorize anyone to run your business.
Authority to act may be delayed while the court process plays out, even though payroll and clients won’t wait.
Depending on your company agreement, an heir may receive the financial rights to your interest without the authority to manage the company.
Your agent’s authority, and what your company’s documents allow, need to work together.
Business continuity planning closes the gap between your business documents and your personal estate plan.
A durable power of attorney that clearly covers business authority, coordinated with your company’s governing documents so the person you choose can actually act.
Deciding who will own the business, who will run it, and how and when that transfer happens: family, a key employee, a co-owner or a sale.
Where appropriate, holding your ownership in a revocable living trust can help keep it out of probate and give a successor trustee clear authority.
Reviewing your company agreement, bylaws or partnership agreement for what happens on death, disability or transfer.
Working with your co-owners, CPA and insurance professionals so a buyout plan exists and has a way to be funded.
A practical record of key contacts, accounts, digital access, vendors, clients and instructions, so the person stepping in knows where to start.
Preparing the next generation, planning family meetings, and treating children fairly whether or not they work in the business.
Your will or trust, guardianship and beneficiary designations, and incapacity documents. Your business plan is only as strong as the personal plan behind it.
Business continuity touches tax, insurance and finance. Legacy Design Law PLLC focuses on where your business and your estate plan meet, and coordinates with your CPA, financial advisor, insurance professional and business attorney so the pieces fit together.
An LLC mainly separates business liabilities from your personal assets. By itself, it doesn’t decide who runs the company, or who owns it, if you can’t.
Solo owners often need it most. When the business is you, there’s usually no one else with the authority or the information to step in.
It may be. We review whether it covers death and disability, how the buyout is valued and paid for, and whether it works with each owner’s estate plan.
Our focus is continuity and legacy planning for business owners. If you need something outside that scope, we’ll tell you, and help you find the right professional.
Find out before you have to. Start with a Discovery Call.