The New Heir's Guide to Managing Your Inheritance - Softcover

Gadsden, Stephen; Gates, Philip; McClure, Kent

Softcover

ISBN 10: 0075527723 ISBN 13: 9780075527725

Publisher: McGraw-Hill Ryerson Ltd, 1997

Synopsis

The potential implications of the inheritance boom are staggering. Managing Your Inheritance is a groundbreaking work that explains the implications of the inheritance boom while providing the tools necessary to manage the inherited wealth, preserve or grow the capital base, and maximize the lifetime benefits of inheritance. It covers complex issues inherent in managing inherited wealth, including the psychological implications, lifestyle decisions, family matters, and lump sum asset management, along with the perilous issues arising from the dynamic tension between existing income, assets, and lifestyle and the temptations afforded by newly added inheritance.

About this title

About the Author

Stephen Gadsden is a Certified Financial Planner and investment management consultant. He is the author of eight personal finance books.

Philip Gates is a Chartered Accountant and tax consultant. Both reside in Aurora, Ontario

From the Back Cover

You might not see yourself as an heir, but think again. Nearly 8 million Canadian will leave bequests averaging $80,000 over the next twenty years. The challenge for the "new heirs" - baby boomer children inheriting from their savings-oriented, depression-era parents - is to preserve the inheritance and increase its value rather than squander it. The New Heir's Guide to Managing Your Inheritance provides the tools needed to do just that.

As a new heir, you inherit more than money . Whether your inheritance is $25,000 or $250,000, this book covers the financial, legal and personal challenges you will face. Some of those include:

- the temptation to immediately change your lifestyle,
- feelings of guilt and responsibility,
- dealing with family matters wisely and sensitively
- finding competent professional advisors and avoiding "vultures",
- learning to deal with and benefit from trusts,
- managing a lump-sum of money or assets
- investing conservatively and preserving capital,
- minimizing taxes,
- accomplishing social, political, and charitable goals
- providing for the future
and more

Peppered with quick tips in each chapter and case studies throughout, The New Heirs Guide to Managing Your Inheritance offers clear, reliable guidance to ensure you manage your inheritance wisely.

Edition details

• Publisher: McGraw-Hill Ryerson Ltd
• Publication date: 1997
• Language: English
• ISBN 10: 0075527723
• ISBN 13: 9780075527725
• Binding: Paperback
• Edition number: 1
• Number of pages: 203