STEP 3: Prepare a Financial Plan for Your Sale Proceeds

Whatever the terms of the sale, your next step is to plan what you’ll do with the money. First pay capital gains taxes on any cash proceeds from the sale in the year(s) in which you receive them (unless you’re selling through an ESOP).
Then protect and grow the remainder to provide for your future needs. Here’s where a skilled financial planner may come into play, to help you with critical issues such as a retirement and estate planning. The plans and instruments you have in place might need to be updated based on the terms of your transition.

Game Plan

Help your advisors help you by asking key questions such as:
  • How do I account for my income and benefits around the transition?
  • How can I safeguard my interests if I’m not receiving full payment up-front?
  • What kind of financial plan do I need for the proceeds from the deal?
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