Define life after the transaction
A sale can change your time, identity and financial position. Consider the income, commitments and level of involvement you would like afterwards before making assumptions about what proceeds need to achieve.
Separate value from available cash
An indicative sale price is different from proceeds available after debt, tax, fees, deferred payments and other commitments. Ask the relevant transaction and tax advisers to explain the timing and uncertainties.
Bring advisers together early
Corporate advisers, solicitors, tax specialists and the personal wealth adviser need a consistent picture. Identify the decisions that require coordination before terms are fixed.
Prepare for a different kind of risk
Wealth concentrated in a business behaves differently from an investment portfolio. Discuss liquidity needs and a considered implementation process with an appropriately authorised adviser.
Keep the family conversation open
A liquidity event can change expectations. Discuss priorities and boundaries carefully, with room for decisions to evolve once the transaction is complete.
This article provides general information, not personal investment, pension, legal or tax advice. Decisions should reflect your circumstances and the advice of the relevant qualified professional.