Receiving an Inheritance

When you are ready, put a plan in place for your inheritance that empowers you to spend intentionally and invest wisely.

  1. Potential Direct Financial Impact

    • Potential lump sum windfall or investments from the inheritance distribution
    • Potential step up in cost-basis on inherited investments and properties if transferred at death.
    • State inheritance tax (depending on the state)
    • Any capital gains taxes on assets that did not receive a step up in basis and/or if transferred before death
  2. Potential Secondary Impacts

    • The need to consider any long-term maintenance costs (ie. insurance and property taxes) on your monthly cash flow if you make a major purchase like a car or property or keep inherited property or other ‘functional assets’.
    • Any changes to your net worth and/or balance sheet based on how you allocate your inheritance.
    • The potential need to consider how to create stable sources of income from your inheritance.
    • The need to put a comprehensive financial plan in place to put your inheritance to work to avoid spending it down in a few years.
  3. Self Completion/Execution Risks

    • Spending down your inheritance carelessly
    • Lost growth opportunity on dollars that could have otherwise been saved or invested
    • Making major purchases without considering the long-term costs associated with them (ie. registration fees, insurance, etc.)
    • Lending money to friends or family
    • Not optimizing your inheritance for tax-efficiencies
    • Not paying appropriate inheritance taxes.
    • Not safeguarding your new found wealth with estate planning documents.
  4. Situations where expertise adds the most value

    • Tax Adviser
      Working with a tax adviser to understand your new tax situation (including potential state inheritance taxes) and ways to minimize capital gains is highly recommended. Additionally, a tax adviser may be able to help you understand the cost basis of any inherited assets and work with you to put a strategy in place to create tax efficiencies for your inheritance.
    • Legal Adviser
      Consulting a trust and estate attorney can help protect and safeguard your wealth and if you plan to transfer a portion of the inheritance to your heirs.
    • Financial Adviser
      Working with a financial adviser may be particularly helpful to determine the role your inheritance may play in your overall financial plan as you balance your short, mid and long-term goals. Additionally, a financial adviser may be able to help you decide whether to continue holding any inherited assets that are invested or sell them.

Harness the full potential of your wealth

We blend deep expertise, sophisticated technology, and personal service to identify strategies that unlock value and pair you with advisers that turn those strategies into reality.


Working with us

We’ll start by working with you to create a personal balance sheet and current financial outlook. From there, we present a curated list of Financial Advisers, CPAs, and Trust & Estate Attorneys from which you can choose.