You may not want to invest all of your inheritance with only your own future in mind. You may want to use all or part of the money to benefit others. If helping to secure the financial future of your children or grandchildren is your goal, you can set up a trust. With a trust, you can invest the money for a future generation and define the terms by which the money will be distributed.
Trusts are complicated financial planning tools.
Program pamphlet Establishing a Trust Fund and talk to your tax and financial advisor. Whatever you decide to do with an inheritance, be sure to consider the future. Think about the long term and what you expect this money to do for you. Very few people will inherit enough money to make their lives easy. Many people, however, will inherit enough to help make their lives more comfortable, if they plan wisely.