National statistics indicate that many inheritances are often spent remarkably rapidly, with half completely dissipating within the first year $($Zagorsky$,$ J$.$ L$.(2013).$ Do people save or spend their inheritances? Understanding what happens to inherited wealth. Journal of Family and Economic Issues, $34(1),64-76.)$ In your financial planning firm, a client shares the following with you, I just inherited this money because my mom died. Every time I look at that account, it reminds me of my moms death. I know I am supposed to care about all the financial things we talked about, but I really feel like just getting rid of it$.$ I just want to put it all behind me and move on with my life, you know? As a personal financial planner, how would you encourage the client not to simply spend the inherited funds right away?Please include:$1.$ Reason $[$Why does the client have such an idea? Does it contain any bias or psychological reason behind the idea?$]2.$ Description $[$What$,$ precisely, would you say or do to explain, educate, or encourage the client?$]3.$ Justification $[$Why do you think this would work? What have you learned in this course so far that would support the idea that this strategy would work?$]$ I want you for each question to provide a simple and concise answer by giving your thought. write approximately $10$ lines for each. Write as a student and give personal example to support your thought$).$ I want you also to use the concept of what we studies in class $($financial planning$)$