The $1,000,000 That Disappeared

When David passed away suddenly at 67, his will was simple: his two adult children, Alana and Jared, would split his savings equally. It was his way of showing love, trust and avoiding conflict. Alana, 35, had two kids and a mortgage and his son, Jared, 28, was recently married and building a tech startup. His last wishes was that this money would support their retirement and be a source of funds for emergencies.

Both received $1,000,000.

Within a year, it was gone.

Alana bought a $3 million house, furnished it, bought a new luxury SUV and took a three-month trip to South America. Alana’s husband was against buying the larger house and they ended up divorcing over the use of the funds. The house had to be sold for the divorce and this put Alana into a financially strained position paying for two children to raise. The inheritance was for her long-term security, which is now in jeopardy.

Jared sunk the full million dollars into his startup, which collapsed six months later with a competitor creating a preferred system design by the market. He had to declare bankruptcy and fell into depression, feeling he’d “wasted Dad’s legacy.”

A quiet view of deserted office buildings symbolizing lost opportunities

Neither Alana nor Jared contacted any financial advisor for a second opinion and to remined of the father’s intention with inheritance. Alana an Jared both learned good intentions can lead to poor results.

And now, the money that David worked 40 years to build was gone in under twelve months.

It’s not that Jared or Alana were reckless. They just weren’t ready — emotionally, financially, or practically. And David never saw it coming.

Contact a SaferWealth advisor for options to ensure your legacy can be honored.ard-earned wealth fulfills its intended purpose for generations to come.