Business Succession Planning: Utah Attorney Shares How to Avoid Common Mistakes
Nearly six out of ten small businesses face an uncertain future because their owners never created a formal succession plan. Without proper planning, these companies struggle when owners retire, face health crises, or simply decide to move on. Your business represents years of hard work and financial investment that deserve real protection. Many business owners recognize this reality and seek guidance from professionals who specialize in estate and business planning to navigate both legal complexities and emotional challenges. Here's what typically goes wrong and how you can avoid these costly mistakes. When Waiting Too Long Becomes Your Biggest Problem Utah-based attorney and estate planning professional Curry Andrews explains that business owners often delay succession planning until retirement feels imminent or until a crisis forces their hand. By then, the damage is already done because developing qualified successors takes years, not months. Starting early transforms successi...