It’s not very often that you may receive a windfall of some sort, and it usually comes as a surprise. Most people are unprepared for an inheritance, and as it often occurs after the loss of someone close, the emotions and stress that come with an inheritance make it harder to make good decisions about how to properly use this money and how best to manage it.
Whether it is a small amount or a large amount, there is always a sense of responsibility attached to receiving an inheritance, you don’t want to waste the inheritance your friend or family member has worked hard for and decided to give to you. Everyone wants to do what is right, and the first question you would ask is, WHAT DO I DO WITH IT?
If the inheritance is money, you could pay off your mortgage, put it in your super, or have a holiday. Either way, there will be a decision to make. Talking to the YouFinance team should be your first step, they can help you look at the options available and provide some clarity in this emotional time.
When it comes to more complicated matters, such as when there is a home left to you, or shares, or even a business, it is even more important to speak to a financial advisor. The team at YouFInance can work alongside your lawyers or accountants to help you through the more complex issues. Providing you with a plan for your future, and helping you every step of the way.