Keep out of reach of children. Inheritance is only one of many new-wealth scenarios. Non-working spouses receive divorce settlements. Plaintiffs win liability lawsuits. Families sell their businesses.
Managers exercise stock options.
And there is the rare lottery winner who hits the jackpot. The reasons are diverse but the effects often similar - sudden money brings responsibilities and pressures that many people are not prepared to manage. Although no statistics are available, many financial advisors and attorneys claim that people who aren't accustomed to having a large sum of money tend not to keep it long. But it doesn't have to end that way. If you know yourself, form a solid wealth management plan and make smart lifestyle decisions, you can improve the odds of enjoying money and making it last beyond your lifetime.