It is a well-documented fact that many people who suddenly become wealthy often lose that wealth almost as fast as they got it.
As Private Wealth points out in "The Downside Of Sudden Wealth," the syndrome is not just due to quickly becoming wealthy. The syndrome refers to the common problem of people who become rich suddenly ending up with less wealth than they previously had.
Knowing about sudden wealth syndrome is important if you are planning to leave a large inheritance to someone who has never before been wealthy. An estate planning attorney can help you to structure the inheritance in a way that makes the problems with sudden wealth less likely to occur.
Reference: Private Wealth (June 16, 2016) "The Downside Of Sudden Wealth"