Now it's time to think about what you're going to do with your inheritance. You may want to invest your money in low-risk financial vehicles, like CDs and annuities, which have fixed returns. However, you may want to put your money in mutual funds or stocks, which have the potential to yield higher long-term returns with added risk. Spending or donating the money is also an option, but before you make any final decisions it would be wise to weigh all of your options first. By clicking on the links below you can learn more about the many options that you have. Remember that the best decision is an informed decision and when it comes to your financial future you should want to make the decision that is best for you.

• CDs vs Deferred Annuities
• Annuities
• Investments
• Philanthropy
• Spending
• Disclaiming

Philanthropy
Billions of dollars are donated annually to diverse charitable organizations throughout the world. Deciding to give your inheritance to a cause that you strongly believe in is usually a good and honorable way to make your loved one's gift truly count. In addition to enforcing the memory of your loved one, philanthropy can also help to minimize your taxes, so donating your gift can have many benefits.

• Helpful Hint...
  The National Charities Information Bureau Web site, at www.give.org, has information and resources regarding charities.

Spending
Sometimes when you receive an unexpected amount of money the first thing you want to do is spend it. There is no reason why you shouldn't allow yourself to indulge just a little bit. However, in order to maximize the benefits of your loved one's gift and secure your financial future, it might be wise to invest the majority of your money rather than spending it all at once. This way the gift that your loved one has left you can help give you a lifetime of happiness rather than just a few moments.

Disclaiming
What should you do if you really don't want the inheritance? The answer is simple: disclaim it. Disclaiming is waiving your right to the inheritance. If you decide to disclaim be sure to notify the executor of the will immediately because there are case-specific time limits on how long you have to disclaim. Generally, when an inheritance is disclaimed by one heir, it is redistributed to any other heirs named in the will. However, rules may vary by state, so check with your attorney before you disclaim.

Now that you are aware of the many options that are available it is time to start making some decisions. Our Planning Tools can aid you in planning for the future of your finances.

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