There are many types of financial windfalls: earning a big contract, being awarded a legal settlement, the sale of a large property, receiving an unexpected gift, selling a business, etc. But inheriting a considerable sum due to the death of a loved one can be a different story altogether.
Whatever the reason, even though a windfall can be a blessing for your financial life, sudden wealth can be a source of stress and cause headaches if not managed properly.
Regardless, a windfall has the potential to change your life – and your loved ones’ lives – for years to come. You may even have philanthropic desires, or mandates and requests that flow from the legal and ethical wills the bequeathing person or entity left for you to follow.
Discover tips for prudent management of an inheritance or similar financial windfall in The Sudden Wealth Guide from Intercontinental Wealth Advisors.