Making sure that you take the necessary steps to arrange for the transfer of your assets to your heirs after you die is clearly very important. You want to be certain that your wishes are carried out without leaving anything to chance. You also have to make sure that you position your assets in such a way as to minimize asset erosion. Doing this is going to require expert counsel.
With the above having been stated, it is also important to seek professional guidance when you receive an inheritance if you are not particularly financially savvy.
Sometimes an individual receives a significant inheritance somewhat unexpectedly without having much of a background handling large sums of money. It can be easy to act impetuously when you are suddenly in possession of a sum of money that could be described as life-changing to one degree or another.
However, such a windfall may be your last opportunity to set yourself up comfortably for the long-term, so the decisions that you make should be carefully measured and informed ones.
There is no reason to expect everyone to be capable of handling an inheritance effectively without professional advice. If you are wondering how to proceed after inheriting a significant store of financial resources the logical first step is to sit down and discuss your situation with an experienced Oklahoma City financial planning lawyer. Your attorney will carefully evaluate your case, listen as you explain your objectives, and help you to create an intelligently conceived financial framework that makes the most of your inheritance.
Author, President and Founding Attorney
Parman & Easterday