If you’ve ever tried to claim an inheritance from abroad, you know the confusion can feel overwhelming. While the deceased may have meant for you to be an heir, the funds don’t magically end up in your account. You’ve got to deal with quite a lot of paperwork and plenty of notarized signatures…. Read more
Expecting an inheritance?
Here are 5 of the toughest questions you will likely have when receiving an inheritance:
- What paperwork do you need so that you won’t suffer problems and delays in getting your inheritance?
- What’s the quickest way to transfer inherited brokerage and retirement accounts to you?
If you leave your children an inheritance, what will your kids do with your money one day? Most people I meet who receive an inheritance manage the cash influx well. Together, we create a financial plan and then invest according to the plan.
However, sometimes the recipients of large lump sums,… Read more
Two years after being diagnosed with pancreatic cancer, my father passed away. He left his daughters a houseful of memorabilia and his investment accounts.
Along with the emotional turmoil, I was faced with the task of processing the estate. I learned a few valuable lessons that I hope you can use to organize your own finances to make it easier for your heirs (in 120 years…)…. Read more
One of the most common side effects of receiving an inheritance is anxiety. This can be caused by the desire to honor the memory or wishes of the deceased or fear of making a financial mistake. It should be comforting to have more money, but sometimes the cash infusion only increases financial worries…. Read more
If you inherit an IRA (Individual Retirement Account), you must be aware of the regulations concerning transferring the account to you, the “beneficiary.” Apart from the technical requirements for processing the account, which a financial advisor should be able to handle, some people also feel a moral responsibility.
When a client recently called me about an inherited IRA,… Read more
One of the most important issues in estate planning is what happens to your money after you die. How quickly your heirs receive the inheritance depends largely on your estate planning. (If you’re having any difficulties with an inheritance, please email me at firstname.lastname@example.org.)
3 things to consider when planning your estate
When setting up U.S…. Read more
Recently, a couple with four children of various ages asked me for advice on how to invest funds that they had just inherited. They didn’t need the inheritance for themselves, and they wanted to pass it along to their children.
The couple’s oldest child was married and wanted to buy a house,… Read more
What should you do if you inherit a portfolio of stocks from your parents?
Should you sell inherited stocks?
To answer the question of whether you should sell inherited stocks, start by asking yourself whether you would buy these stocks if you had extra cash.
You have no moral or legal obligation to keep the positions just because your parents owned them…. Read more
Many of my client relationships began as a result of receiving an inheritance. The sudden infusion of money is a good impetus for a review of one’s goals.
The first thing to do when you get an inheritance is – nothing. There’s usually no rush to spend or invest the money…. Read more