Joanne’s mother just passed away. Her parents saved their entire lives, leaving Joanne with a significant sum of assets, but little instruction or knowledge on how to manage them. She is the newly appointed executor of her estate which includes real estate and various investments. Joanne’s mother often gave to charities and was philanthropic at heart, and Joanne is unsure of the best way to continue her legacy. This is in a confusing time in her life where she needs time to grieve but now has the responsibility of this newly inherited wealth.

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Joanne has a few main concerns with her inheritance. First and foremost, she immediately wants to know what her tax situation looks like so she can plan accordingly, and if any steps can be taken to preserve the inheritance. She also wants to continue her mother’s legacy of philanthropy and figure out how that will fit into her own goals for herself and her family.

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How Did We Work Together?

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We work with clients like Joanne by first assessing her current financial position. We seek to understand what her current assets and liabilities are along with any ongoing expenses, which helps us understand how the inherited money fits into her overall financial status. We then develop a plan that addresses what to do with the assets to achieve several goals. These can include a combination of paying down debt, investing for her future, and continuing the legacy of her mother, meanwhile maximizing the use of the inheritance in making progress towards her families’ future successes.

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If you can relate, schedule a conversation.