|
The Grammys are here with Kendrick Lamar leading the nominees. Here's how to watch AP NewsAt a Grammys Light on Drama, All Eyes Will Be on Bad Bunny The New York TimesHow to Watch Justin Bieber, Lady Gaga and Sabrina Carpenter Perform at the 2026 Grammy Awards Online YahooGrammy Awards 2026: How to watch and who will win BBCThe Grammy Awards are tonight. Here's how to watch live and what to know. CBS N
|
|
Updated snow totals for southeastern Virginia: Forecast down The Virginian-PilotWinter Storm Hits the Carolinas, Bringing Dangerous Ice and Snow The New York TimesWhere does this weekend's snowstorm rank among Charlotte's biggest winter events in history? WCNCSnow is falling fast and heavy in the Piedmont of North Carolina | Winter Storm Warning WXIIPhotos show bomb cyclone snow storm in Carolinas
|
|
Tax planning becomes a priority if you're still working and can no longer fund an HSA.
|
|
Thought leadership still influences buying decisions, but most of it is forgotten moments after it appears. Here's how you can change that.
|
|
Missed IRA RMDs can cost clients thousands, Vanguard research shows. But financial advisors can help erase tax penalties and avoid future ones with a few key strategies.
|
|
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
|
|
