How to handle an inheritance: the 3 key factors
Receiving a windfall may feel like a simple case of good fortune—but when the money is part of an inheritance, be prepared for complications.
When my father passed away in 2013, my sister and I learned that we were the joint beneficiaries of his life insurance policy. We knew that Dad intended this money as a strings-free gift. His final arrangements were already paid for, and my sister and I were both thirtysomething adults who did not rely on his income. And yet, I have never felt more financial stress in my life than when dealing with our inheritance, which consisted of the proceeds of our dad’s life insurance.
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