Clients 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 guidance can can create unique opportunities to make a significant positive impact.
This checklist helps guide your decision making if you experience a sudden wealth event:
- The nature, timing, and terms of the wealth event
- Cash flow impact
- Liquidity considerations
- Tax planning matters
- Long-term planning opportunities