Helping you decide what to do with an inheritance or windfall
We'll work with you to understand your entire financial situation and how these funds can be best utilized to reach your goals.
Whether you've long expected this event or it came as a surprise, receiving an inheritance of any kind can be emotionally conflicting. And that's where we come in. Since 1987, we've worked alongside clients helping them navigate the choices, complexities, and new possibilities that an inheritance or windfall sum can bring.
Our team of financial advisors can help you:
- Develop a financial plan to help you determine the best use for your inheritance and evaluate difficult decisions such as whether to hold or liquidate inherited real estate assets or securities
- Understand how a windfall may change your goals and current savings strategy
- Develop an investment management strategy for inherited cash or assets
- Diversify a concentrated stock position or other asset
- Explore "what-if" scenarios for ways the inheritance or windfall proceeds could be used
- Prioritize financial goals and develop a strategy for the best use(s) of the cash (e.g. reduce debt, invest for retirement, fully fund college goals)
- Review your current estate plan and whether it may be advisable to consult your estate planning attorney for modifications
- Analyze your current life insurance coverage
- Determine whether the inheritance is taxable and coordinate with your CPA to ensure an adequate amount is put aside to cover the taxes due
- Discuss your charitable objectives and varied tax advantages of charitable giving
- Explore the possible benefits of setting up a trust
If you're wondering what to do with an inheritance or windfall, remember there is no one "right" answer. Our role is to help you understand your options and develop a strategy that makes the most sense for you and your objectives.