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The Do's and Don'ts after receiving an inheritance

As older Americans prepare to transfer their wealth or will it to their family, what should inheritors know before receiving this large sum of money? Wealthstream Advisors Financial Advisor Katharine George explains the do's and don'ts when inheriting wealth, which includes money and even real estate property.  "I try to stay away from rules of thumbs but I would say in general, [avoid] making big decisions. I would say wait about six months or so, especially if you're grieving," George says. "These big changes... in that short period of time when you're grieving if it was someone close to you, we don't want to make any decisions that are rash. So buying another property or going on a big vacation. These big changes, it could be that you need these assets invested and saved for your long term or it could be you could retire tomorrow. It really depends on the personal situation but not making any of these big decisions immediately after is really important, really let the dust settle." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan.