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What Issues Should I Consider If I Experience A Sudden Wealth Event?

Category:
General, Working / Accumulation Phase, Estate Planning, Life Events
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Updated 12/1/2023

Clients can experience a variety of wealth events that lead to a financial windfall, including the sale of a business or real estate, an inheritance, lottery winnings, or a legal settlement. An increase in wealth, especially when unexpected, large, and/or sudden, requires thoughtful planning. This is a critical time to provide guidance and value to your clients, and offers a unique opportunity to make a significant positive impact.

This checklist helps guide your conversations when advising clients that experience a sudden wealth event, and covers:

  • The nature, timing, and terms of the wealth event
  • Cash flow impact
  • Liquidity considerations
  • Tax planning matters
  • Long-term planning opportunities
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