Managing A Liquidity Event

  • First, you need to build your team. Contact a certified public accountant, a wealth manager, an estate attorney and a tax specialist. If you do not already have these advisors in place, ask your friends or family members who do for referrals.
  • Create your personal financial statements, balance sheet, income statement and net worth.
  • Deliver these documents, along with a brief synopsis of your goals, concerns and other items of interest, to each member of your team and schedule a meeting where all parties are present.
  • Use that meeting to brainstorm, ask questions and let the professionals get to know each other.
  • Make sure that everyone leaves with action items. If someone has emerged as the coordinator for your situation, either appoint them leader or lead yourself.
  • Schedule a follow-up meeting for the team to present their solution. By encouraging them to work as a team to create the proposal, they will develop collaborative relationships that will make your life easier later.