|
Live updates: Arrests made hours after hundreds gathered for another anti-ICE protest in DTLA ABC7 Los Angeles'National shutdown' brings protests to L.A., across the nation; demonstrators clash with police Los Angeles TimesProtesters clash with federal agents in downtown Los Angeles CBS NewsCitywide tactical alert issues after anti-ICE protesters clash with federal officers in downtown LA
|
|
ESPN's purchase of NFL Network and other league digital assets has been finalized after government regulators approved the transaction.
| RELATED ARTICLES | | |
|
"I'm a 40-year-old woman in a committed relationship, and I've experienced the loss of both of my parents."
|
|
Historically, U.S. workers with a bachelor's degree or higher have enjoyed better employment outcomes. That's starting to shift, labor data shows.
|
|
It's no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grieving the loss of a parent or other loved one.
SEE MORE How Much of Your Estate Will Be Lost to Taxes?
I often work with people in many different age groups who have suddenly become wealthy as the result of a windfall inheritance. While there is a need to develop a comprehensive financial plan, it's not the first step. Instead, I try to determine each person's starting point with money. Many people fall into one of three categories:
They are anticipating how they will handle their wealth, but the money hasn't yet arrived.They have their inheritance — often several million dollars — but they are still grieving the loss of a loved one and are looking for guidance on next steps.
The inheritance has been in their bank account for a long period, but they still lack direction and can't make any decisions.
It is important to listen to each person's personal story with a windfall of money. Losing an important person in your life is difficult, and reflecting on the impact that person made is just as important. Many people express a desire to do something to honor a parent's wishes.
Figuring out how to make the best use of an inheritance
Here is how I generally approach these conversations to help a person make the best use of their inheritance:
Define their relat
|
|