Widows Often Shocked by Tax Burden

posted in Inheritance Jul 16, 2019


The classic idiom (usually attributed to Ben Franklin) is painfully true for many widows: “In this world, nothing can be said to be certain, except for death and taxes.” While becoming a widow may result in inheriting assets from a deceased spouse — 401(k), life insurance, pension, Social Security survivor benefits — she may also be shocked by a substantial increase in income taxes and Medicare premiums.1

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Practical Advice for Clients Who Inherit Money

posted in Inheritance Apr 2, 2019


The circumstances surrounding a large inheritance usually involve a combination of emotions — sorrow over the loss of a loved one and appreciation for the financial gain. Conflicted feelings on top of indecision about what to do with an inheritance may have clients in this situation seeking your guidance to help avoid any pitfalls.

To help clients wisely guard and grow their new-found wealth by keeping things in perspective, consider using these three steps:

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Why Financial Advisors Need to Develop and Implement a Succession Plan

posted in Retirement, Inheritance Apr 24, 2018


You’ve built a career on helping clients prepare for their retirement, but have you thought about how you’ll handle yours? 

Many advisors view creating a formal succession plan as a “someday” task, as evidenced by only about 30% of financial advisors having a plan in place1. That’s not to suggest advisors underestimate the importance of having a succession plan, but rather that there are often significant personal and professional considerations that could increase the desire to delay.

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Key Questions to Ask and Answer When a Client Inherits a House

posted in Inheritance Jan 2, 2018


Home ownership is an eagerly anticipated goal for many, and the house purchased is a valued asset. But, what happens when the homeowner dies and passes along their prized possession to the surviving family?

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