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But what dont you know?
In the video, Kamel reveals one of the big reasonsthis wealth transfer is so significant.
What To Do With Inherited Wealth
With a great inheritance comes great responsibility.
The key is to approach this newfound wealth withcaution and respect.
Some good expenditures to consider with inherited wealth include paying off debt and your mortgage.
Instead, its about instilling values you find important and planning for the future of those you leave behind.
Kamel emphasized the importance of communicating these plans with your family members.
Start the conversation about your legacy and financial goals early on.
Talk about how your wealth should reflect your familys values and the importance ofambition, drive and gratitude.
During these discussions, looping in a financial advisor is a great idea as well.
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