If the man you call dad is not your real father, does his will apply to you?

Receiving an inheritance can be an emotional roller coaster; after all, you are receiving a sum of money following the death of a loved one. The intense feelings of grief which usually accompany the process can make it difficult to make sound financial choices. Following these simple guidelines can help in making clear-headed decisions to manage your windfall.

When you find yourself on the receiving end of a nice lump sum, it's tempting to just spend it all on something cool and expensive. But you have to stop, count to ten, and decide if you might not want to do something sensible with the money. Whether you want to invest or pay off your debts, spending money can be almost as hard as earning it.

So a small sum of money has fallen into your lap. Now's the time for champagne all around and keep it coming! Or... now could be the time for rational financial planning. You can spend your money, save it, invest it, or use it to eliminate your debt. Or perhaps even put some thought into early retirement. Even if your windfall won’t make you a millionaire, with careful planning you can still use it to make progress toward your financial goals.

Losing a loved one is tough, and while you will probably not be required to make decisions about investing or spending, as a surviving family member there are fundamental issues that you will need to address. This article will highlight the responsibilities of the executor, how to assess the estate’s value, pay bills on behalf of the deceased, pay last taxes on behalf of the deceased, transfer assets to heirs and beneficiary responsibilities.

All parents have dreams for their children, but what happens if you're not around to see them come true? The decision of who gets custody of your child is never easy, but it’s important you make your desires clear in your will now; especially if you’re raising a child with special needs. Unless you want is a judge to make that choice for you, now is the time for you to act - and this guide can get you started.

No one wants to have to think about their own death; and yet, if you truly love your relatives and next-of-kin, the best way to avoid adding pain to your passing is by making your wishes clear in a will. While laws vary from state to state, in general, without a will, a judge in probate court decides where all of your stuff goes and to whom. And despite the relative ease and affordability, over half of all adult Americans still haven’t drafted one.

When it's time to cover your assets, we have some tips to get you started.

Warren Buffet once said, “I want to give my kids enough so that they would feel that they could do anything, but not so much that they could do nothing.” We have some ideas to help you create a trust fund that provides for your child, or even provide tax-free gifts while you're still around that can help your child pay their college tuition and provide financial planning.

Receiving an inheritance is often accompanied by a range of emotions, including but not limited to: Grief over the loss, a sense of responsibility to use the money well and a feeling of being overwhelmed by the many decisions to be made on how to spend it.