Financial Advisors for Inheritance Planning

Financial Advisors for People Managing a Large Inheritance

Receiving a large inheritance is one of the most financially consequential and emotionally complex events a person can experience. The money arrives with grief, often with family complications, and almost always with more financial decisions than you're equipped to make quickly.

The most important thing a financial advisor can do in this situation is help you slow down. Most of the bad financial decisions made with inherited money happen because someone moved too fast. The second most important thing is getting the tax questions right — because the rules around inherited assets are both important and counterintuitive.

The Tax Rules You Should Understand

The tax treatment of inherited assets is more favorable than most people realize — but it requires understanding the rules to benefit from them.

Stepped-up basis: When you inherit appreciated assets (stocks, real estate, business interests), your cost basis is "stepped up" to the fair market value at the date of death. If your parent bought a stock for $10,000 and it was worth $200,000 at their death, your basis is $200,000 — not $10,000. You can sell immediately with little or no capital gains tax. This is one of the most powerful provisions in the entire tax code, and most people don't realize they have it.

Inherited IRAs: The rules changed significantly with the SECURE Act (2020). Most non-spouse beneficiaries must now withdraw the entire balance within 10 years — and distributions are taxed as ordinary income. The strategy around timing these withdrawals (spreading them across 10 years to manage bracket impact, taking larger withdrawals in low-income years) is genuinely worth planning around.

Estate tax: Federal estate tax applies to estates above ~$13.6M (2024). State estate taxes vary — some states have exemptions as low as $1M. If the estate is taxable, the tax was paid by the estate, not by you as a beneficiary. But you should understand what was already paid and what your basis implications are.

The First 60 Days: What to Do (and Not Do)

The period immediately following a large inheritance is the highest-risk window for bad decisions. Here's what matters.

Do not make major investment commitments before you have a plan. Keep the proceeds in a high-yield savings account, money market fund, or short-term Treasuries while you take stock of your situation. You're not losing ground — you're buying clarity.

Do not tell many people about the inheritance. The social dynamics around inherited wealth are complicated. Privacy protects you from well-meaning but self-interested advice, family requests, and financial solicitors who smell opportunity.

Do get a clear picture of what you received: the assets, their stepped-up basis, any liabilities that transferred, and any conditions attached to the inheritance (trusts with distribution provisions, restricted stock, tax-deferred accounts with different withdrawal rules).

Do contact a fiduciary financial advisor. Not a broker, not a private banker calling to congratulate you. A fee-only fiduciary who will help you build a plan rather than sell you products. This distinction matters tremendously.

Building a Plan Around Inherited Wealth

After you've parked the proceeds and absorbed the immediate tax picture, the real work is building a plan.

Define what this inheritance means for your life. Are you retiring early? Switching careers? Building toward a longer-term goal that this money makes possible? The inheritance should be integrated into your actual life plan, not managed in isolation.

Consider the interaction with your own estate situation. A large inheritance may significantly change your own net worth, which has implications for estate planning, insurance needs, and long-term financial strategy. Your advisor should look at this holistically.

Be thoughtful about asset location and tax-efficiency. Some inherited assets (inherited IRAs, inherited tax-deferred accounts) have required distributions and tax consequences. Others (inherited appreciated real estate) can be held indefinitely with stepped-up basis. Optimal placement matters.

Advisors on Sam's List for Inheritance Planning

Looking for a fiduciary advisor to help you navigate an inheritance thoughtfully? These advisors on Sam's List have the planning scope and tax expertise relevant to inherited wealth management.

Bull Oak Capital — Rancho Santa Fe, CA. Full-service RIA: investment management, financial planning, tax strategy, and estate planning. The integrated approach matters when inheritance decisions touch all four simultaneously. Fee: 0%–0.35% of AUM.

Rodriguez Wealth Management — Newport Beach, CA. Specific focus on "preserving, growing, and transitioning wealth" — directly relevant language for inherited wealth management. Fee: 0%–1% of AUM.

Capital Area Planning Group — Washington, DC. Led by Malcolm Ethridge, CFP/EA. Strong on tax strategy — essential for managing inherited IRA distributions, stepped-up basis decisions, and the tax implications of a sudden increase in net worth. Fee: 0.25%–1.5% of AUM.

Anthony Syracuse, CFP — Scottsdale, AZ. Flat-fee fiduciary ($7,500/year). Works with high-net-worth individuals on building comprehensive financial architecture. No AUM incentive to rush you into managed investments.

Ian Weiner, CFP, CEPA — Bentonville, AR. Tax reduction and wealth preservation focus. Estate planning coordination is part of the practice. Fee: 0.5%–1.75% of AUM.

Browse Sam's List to find a fiduciary advisor experienced in helping people manage inherited wealth thoughtfully — with tax strategy, estate planning coordination, and no rush to deploy capital.