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Trump retreats from shipping toll in Strait of Hormuz The Washington PostTrump Drops Plan to Charge Ships Fees in the Strait but Will Restore Blockade: Iran War Live Updates The New York TimesInside the 24-hour sprint to convince Trump to drop his plans to toll Strait of Hormuz CNNRenewed US naval blockade of Iran goes into effect, says military The Times of Israel
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Brent crude, the international benchmark, breached $85 per barrel for the first time in a month.
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France showcases 500 pro-Ukraine troops at Bastille Day ReutersEurope, Flexing Muscle in Ukraine, Is Still on Sidelines in Iran The New York TimesEuropean troops and warplanes join Paris Bastille Day parade in a show of unity for Ukraine AP NewsOn Bastille Day, Macron Offers Spectacle of European Military Might WSJBastille Da
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Hero pilot Capt. Sully Sullenberger shares heartbreaking health update New York PostCapt. Sully, Who Saved 155 in ‘Miracle' Plane Landing on the Water, Reveals Alzheimer's Diagnosis (Exclusive) People.com'Miracle on the Hudson' hero Captain 'Sully' Sullenberger reveals Alzheimer's diagnosis Fox News
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Paramount is still planning for its acquisition of Warner Bros. Discovery to close by late September despite lawsuit challenge from state attorneys general.
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An effort to block media giant's planned takeover of Warner Bros. Discovery underscores how states are taking a more active role in antitrust regulation.
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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
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