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Financial windfalls can arrive in many different ways. Maybe you’ve received an inheritance, sold a business, reached a divorce settlement or even bought a lucky lottery ticket.

Whatever the source, obtaining sudden wealth can be exciting, disorienting and life changing, even if you had already achieved a solid level of financial security. To turn your windfall into a long-term financial asset, it’s essential to adopt a measured approach.

Don’t feel like you have to make every decision immediately when you receive a windfall. It’s important to pace yourself, focusing on the most crucial tasks while you get organized.

Your immediate to-do list should include tax planning, updating your will or estate, making sure the funds are held in a safe account and deciding who should have access. You also may want to use some of the money to pay off any higher-interest debt or expand the size of the emergency fund you maintain for unexpected expenses.

A financial advisor can help you set priorities and manage your money effectively from the start so that you don’t make impulsive choices, spend too heavily or deplete your wealth.

You may feel excited about the opportunities this wealth provides, anxious about managing the funds or even guilty that you received it instead of someone else.

Sudden wealth can also significantly affect your personal relationships and lifestyle. It’s possible that acquaintances will reemerge and contact you after they hear about your good fortune. Family members may start asking you for financial help and providing unsolicited advice on what you should do with the money. Moreover, if you change how you spend money or your time, friends can drift away.

If you’re experiencing psychological challenges, such as severe stress, mood swings or confusion, you may have what is sometimes referred to as sudden wealth syndrome (SWS). This syndrome can cause struggles with your decision-making or result in self-isolation. Mental health and financial experts can help you manage any of these symptoms as you build a support system and establish routines.

Coming into money can trigger complicated tax situations that vary depending on how the windfall arrived and where you live. The sale of a business or real estate can create tax obligations related to net investment income, capital gains or estate taxes.

A financial advisor can work with you and your tax professional to minimize your tax burden through strategies, such as establishing a trust or putting funds in tax-advantaged accounts. In addition, an attorney can help you comply with laws and regulations when it comes to drafting wills, establishing estate plans or making large gifts.

Newfound wealth provides you with resources for making a difference in the world and building a legacy. In addition to new opportunities for charitable giving, you may now have time to volunteer for causes that you believe in, expanding the impact of your giving. Philanthropy also can help you gain perspective, create balance in your life and manage any symptoms of SWS.

Along with the societal and personal benefits, philanthropy can provide significant financial advantages when incorporated into your financial planning. Structured giving ensures that your donations are aligned with your investment objectives and long-term financial strategy. Qualified donations lower your taxable income, reducing your tax burden. Charitable contributions may have estate tax benefits for your heirs as well.

Working with an experienced financial advisor, you can devise an investment plan that is tailored to meet your financial aspirations. When investing your windfall into your tailored investment strategy, history tells us that putting your cash to work straight way is likely to be a good strategy, since risk assets typically trend higher. Even so, you may worry about the risk of bad timing (such as buying just before an all-time high). To manage this risk, you may want to consider phasing into the market, such as over the course of 6 to 12 months.

Receiving a windfall can transform your life for the better when you pause, plan and seek professional guidance. A measured approach allows you to make thoughtful decisions that can protect your wealth and support your goals.