What Issues Should I Consider If I Experience A Sudden Wealth Event?

financial advisor
Written By Gerald Hendrik

Individuals can experience a variety of wealth events that lead to a financial windfall, including the sale of a business or real estate, an inheritance, lottery winnings, or a legal settlement. An increase in wealth, especially when unexpected, large, and/or sudden, requires thoughtful planning. This is a critical time for you that can have huge impacts long term.

This checklist that I use can help you see what guide I use. It structures our conversations when advising clients that experience a sudden wealth event, and covers:

  • The nature, timing, and terms of the wealth event

  • Cash flow impact

  • Liquidity considerations

  • Tax planning matters

  • Long-term planning opportunities

Work with an financial advisor you trust that is a fiduciary or call Rockwall Wealth Advisors so that you can position yourself properly.

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Gerald Hendrik
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