Receiving an inheritance can often come with plenty of baggage attached. The most obvious is that someone has had to die, usually someone very close to you, for you to be the beneficiary of this financial gift. But the challenges don't end there.

Many of the clients I work with engage us following the receipt of an inheritance. We often have discussions around an awareness that a close relative worked hard to build this wealth and as the recipient, there's a weight on the shoulders to not blow it, to not be frivolous.

For many people, an inheritance is the first time they have had to make decisions about what to do with large sums of money. Until now all they've had to do is manage their cash flow, pay off the mortgage, perhaps check their super statement once a year, and that's about it.

Now they're being asked to make decisions on hundreds of thousands of dollars. It's not surprising that people often get stuck in a state of inertia. Whilst grateful for the gift they have received, the pressure to not screw it up can become overwhelming.

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