|
Iran threatens retaliation after Trump says U.S. will guide ships in Strait of Hormuz washingtonpost.comLive updates: Iran war, Trump says US to start guiding ships through Strait of Hormuz CNNTrump Announces ‘Humanitarian' Plan to Get Ships Through Hormuz Bloomberg.comOil prices mixed in choppy trade as Trump plans to 'free' ships stranded due to Mideast conflict CNBC
|
|
Asian markets are mixed and oil is steady after Wall Street hits records AP NewsStocks gain in Asia, oil flat amid new Gulf proposals ReutersAsia-Pacific markets trade mixed after OPEC shock, tech jitters drag Wall Street lower CNBCinvestingLive Asia-Pacific FX news wrap: Trump plan to get ships through Strait of Hormuz investingLive
|
|
United flight landing at Newark Liberty Airport strikes light pole, truck on New Jersey Turnpike, officials say CBS NewsVIDEO: Baltimore bakery truck struck by plane in New Jersey WBFFUnited Flight strikes light pole, damages truck on NJ Turnpike before landing at Newark Airport ABC7 New York
|
|
Oil prices fall in choppy trade as Trump plans to 'free' ships stranded due to Mideast conflict CNBCTrump says the US will ‘guide' stranded ships from the Strait of Hormuz, starting on Monday AP NewsNew Hormuz Strait initiative won't necessarily involve US Navy ships — reports The Times of IsraelU.S. Military Supports Launch of Project Freedom in Strait of Hormuz U.S. Central Command Press Releas
|
|
U.S. stock-index futures rose and oil prices fell Sunday, after President Donald Trump said the U.S. will work to "free" neutral shipping that's been stranded in the Persian Gulf since the start of the war with Iran.
|
|
Trump says U.S. Navy will escort ships out of the Strait of Hormuz from Monday AxiosTrump says the US will ‘guide' stranded ships from the Strait of Hormuz, starting on Monday AP NewsAsia markets set to open mixed after Trump unveils plan to free ships in Hormuz CNBCTrump says US operation will aid ships stranded in Strait of Hormuz Reuters
|
|
Justice Dept. Prosecutor Says Inquiry Into Fed Chair Could Be Resurrected The New York TimesTrump Live Updates: Blanche Defends Case Against Comey Over ‘86 47' Image The New York TimesPirro appears to drop plans to appeal criminal investigation of Fed Chair Powell CNBCUS attorney doesn't rule out continuing to investigate Federal Reserve Chair Powell CNN
|
|
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
|
|
