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EP 42: Sudden Wealth – How to Handle a Large Inheritance

Mar 1, 2025

"My father recently passed away, and he left a significant inheritance to me and my siblings. How do we make sure we don’t waste it?" Questions like the one above are becoming more common and will increase in the years ahead as approximately $84 Trillion dollars is transitioned from the silent generation and baby boomers to their children. More and more individuals and families will be faced with the blessings and challenges that come from a significant inheritance. A sudden wealth transfer often comes at an emotionally difficult time. In addition, the individual receiving the money may never have dealt with a similar amount of money before. Rather than building wealth gradually and developing the skills to manage it over the years, they are immediately handed the inherited assets along with the related challenges and must learn to navigate them quickly. If you are interested in learning more about how to handle the sudden wealth that can accompany an inheritance, we think you'll enjoy this month’s episode. Thanks for listening! For more details, we recommend that you check out our blog post covering the same topic at https://pw-wm.com/learn/financial-planning/sudden-wealth-how-to-handle-a-large-inheritance/.

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About The Podcast Hosts

Steve & Nathan

Steve and Nathan have a passion for teaching others about finances and how to build the financial independence that is achievable with the proper planning. In their roles at Prairiewood Wealth Management, both Nathan and Steve focus on providing comprehensive financial advice to ensure their clients have a coordinated plan that covers all aspects of their finances including their investments, insurance, estate plan, and charitable giving goals.

As Certified Public Accountants (CPAs), both Nathan and Steve believe that one of the most overlooked aspects of financial advice is the tax impacts that result. Accordingly, a core focus of the advice they give centers on integrating tax strategy into the overall financial advising process.

Steve and Nathan are excited to share their knowledge through this podcast as well as their blog with the goal of helping you effectively manage your family’s wealth and ensure you have a comprehensive and coordinated plan for your future.

About Steve & Nathan