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Just about everyone dreams of winning the lottery; however, most of us who come by a financial windfall do so because of an inheritance. There are a number of asset protection and estate planning strategies to employ to help you protect your inheritance or any large sum of money that you come by, unexpectedly or not.

Here are 5 tips to help you protect a financial windfall:

· Create goals for what you want to do with your windfall before spending any of it;

· Consult with a financial planner and/or estate planning attorney before making any investments;

· Be sure to subtract taxes and current debts from the windfall before making a spending plan;

· Update your estate plan and considering establishing trusts to protect assets;

· Consider donating to charity via donor-advised funds that allow you to invest, receive a deduction and make donations on your own schedule.

The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0041.