As they plan their estates, many people consider themselves fortunate if they are able to leave substantial inheritances to their children \u2014 and the children will be grateful to receive it. However, large inheritances bring certain responsibilities that can be overwhelming to some heirs, especially because they arrive during a grieving process.<\/p>\n
Those who inherit a large sum and have not previously handled such amounts may be unsure of how to manage the money. The details can easily become overwhelming. Many heirs make the mistake of promising gifts or loans to friends and family before they sort out their own financial plans. Others make substantial investments too quickly, without analyzing the positive and negative aspects of different investment strategies.<\/p>\n
New heirs must remember to slow down. Before making any investments or promises with new wealth, it is wise to consult with a financial adviser and to begin to learn about money management. Keep (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" As they plan their estates, many people consider themselves fortunate if they are able to leave substantial inheritances to their children \u2014 and the children will be grateful to receive it. However, large inheritances bring certain responsibilities that can be…<\/span><\/p>\n