Beyond the practical tasks of managing inherited money, learn how to anticipate and work through issues like guilt, grief, and interpersonal/familial conflicts that can complicate a smooth inheritance.
- Inheritance is complicated.…Besides the bureaucratic process,…there can be other issues…like what to do when there's no will?…Or when the loved one's instructions are met with conflict?…But even in the best of circumstances,…well, really there are no best of circumstances…because we're still dealing…with the emotional issues surrounding a loss.…That's why it's so important to understand…that an inheritance is never…just as simple as receiving money.…So how can we navigate these challenges?…First we need to look at how people…organize money differently according to its source.…
While we may think of money as a purely numerical entity,…how we behave with it depends on the meaning we project.…Thus we treat borrowed money differently than saved money,…earned money differently than a windfall,…and inherited money is a whole category in it of itself.…Inherited money is often closely identified…with the person who bequeathed it.…And the use of that money can be strongly influenced…by our experiences and relationship with that person.…
Skill Level Intermediate
Personal Finance Tips and Trickswith Jane Barratt2h 58m Appropriate for all
Financial Wellness for Couples and Familieswith Amanda Clayman1h 7m Appropriate for all
New This Week
Your Money Management
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