Resist the urge to overleverage yourself (i.e., borrow or purchase on credit). Instead, use cash to make priority purchases. With respect to spending, individuals often feel it helps to make one splurge purchase upon coming into newfound wealth. To conquer the itch to spend, buy a few "must-haves" and then return to more disciplined spending practices.
5. Have a game plan with your spouse. A prenuptial agreement for a spouse-to-be can be put in place for mutual understanding. For married couples, a post-nuptial agreement can be an effective tool to clarify joint and individual estate plans, as well as to protect both parties.
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6. Protect your blind side. Securing the proper insurance means having life, health, disability, property and casualty and liability insurance in place. Execute a comprehensive estate plan, which will include a will and, typically, a revocable trust, as well as powers of attorney, medical directives and guardianship appointments, as appropriate.
The plan should also address your goals, where applicable, of passing wealth efficiently to family members and future generations.