The first challenge we will address in our Inheritor’s Blog Series is referred to as “The Mourning Stage.” Similar to the stages of grief, this phase is felt by many new inheritors.
I know, I know! How is it that a new inheritor might experience a mourning stage, rather than a jubilation period? Many heirs (especially younger heirs who inherited enough to significantly alter their financial standard of living) experience a period of mourning. They are suddenly burdened with new responsibilities without having the tools to even know where to begin. All this while coping with the likely loss of a family member and the realization that their life can never go back to the way it was. Their relationships with friends, co-workers, and family will inevitably be altered. They must give themselves permission to mourn the loss of their former lives before they can healthily integrate with and embrace their new financial circumstances.