Legal pitfalls to avoid when considering business succession

Like other things in business, it’s never too early to start planning an exit strategy.

By Ric Gregoria
| 4:01 p.m. March 30, 2021
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Advice

Ric Gregoria, president of Sarasota-based Williams Parker Attorneys at Law and a former CPA, has worked with dozens of family businesses. Some of the mistakes he’s seen family businesses make in the succession process include:

• Starting too late or not starting at all. “Start early,” Gregoria says in an email. “Successful transition takes time, training and communication.”