Significant Wealth Events
- Have you recently received a substantial inheritance?
- Have you recently taken a lump-sum retirement payout?
- Have you recently been divorced?
- Have you recently sold your business?
- Have you recently received a legal settlement?
- Have you recently exercised stock options?
- Have you recently sold real estate or another family asset?
- Have you recently been involved in a capital markets transaction, like an initial public offering?
- Have you recently received an unexpected financial windfall?
If you answered yes to one or more of these questions, you are in the midst of a “significant wealth event.” As with most other “events” in our lives, these will bring about both financial and emotional challenges. Sometimes these events can be planned for in advance, like the sale of a business, but many times they come unexpectedly, like an inheritance or lottery win. However it comes about, the event brings with it a complex new dimension of financial decisions and planning.
We understand these complexities and want to help you navigate the waters of a significant wealth event, which is often a new experience for many individuals and families.
Questions to consider when a significant wealth event occurs:
- Will this change my lifestyle and objectives?
- How do I estimate my future living expenses and income needs?
- Can this wealth become my primary source of income going forward?
- How can I share this wealth with other family members?
- What are my primary concerns now that I have this wealth?
- Should I establish new relationships with professionals, such as an attorney or accountant?
- How should I invest the wealth?
- What is the tax impact of the wealth event?
- What is the best way to support charitable causes with this wealth?
- How should my estate plan change as a result of this wealth?
Again, these are often complicated questions that we can help you answer. Our expertise in these matters can help to alleviate the stress and emotional anxiety associated with sudden wealth.
We are here to help
Just to learn of a significant wealth event in your life can be emotional enough, but to manage the event as time goes by can lead to many more challenges most people are not ready to meet. Let us help you face these challenges with confidence so this event become a long-term success for you and your family.