My father recently passed away, and he left a significant inheritance to me and my siblings. How do we make sure we don’t waste it?

Questions like the one above are becoming more common and will increase in the years ahead as approximately $84 Trillion dollars is transitioned from the silent generation and baby boomers to their children. More and more individuals and families will be faced with the blessings and challenges that come from a significant inheritance.

A sudden wealth transfer often comes at an emotionally difficult time. In addition, the individual receiving the money may never have dealt with a similar amount of money before. Rather than building wealth gradually and developing the skills to manage it over the years, they are immediately handed the inherited assets along with the related challenges and must learn to navigate them quickly.

If you are interested in learning more about how to handle the sudden wealth that can accompany an inheritance, we think you'll enjoy this month’s episode. Thanks for listening!

For more details, we recommend that you check out our blog post covering the same topic at https://pw-wm.com/learn/financial-planning/sudden-wealth-how-to-handle-a-large-inheritance/.