The importance of planning once you’ve received an inheritance.

I’m overwhelmed with the complexity of my Inheritance.

Receiving an inheritance from a loved one can be an opportunity but it can also be overwhelming. Especially if this foreign to you. I help you understand what you have, how it works, what tax implications come with it and how it can impact your life and the life of your family.

I’m not sure how to INVEST my INHERITANCE.

The Challenge:

  • I’m overwhelmed with the complexity of my inheritance.
  • I’m not sure how to invest my inheritance.
  • I need a financial plan that I understand.
    Am I paying too much in taxes?
  • How do I protect what goes to my children?

What type of account you receive in an inheritance makes a difference

Receiving an inheritance could involve various types of accounts, each with its own tax implications and considerations.

The 3 basic tax types are:

  • Cash Accounts are pretty straight forward, you would only be taxed on any interest or dividends earned while you own the account.
  • Investment Accounts-inherited investment accounts may be “stepped up” to their current market value at the time of inheritance when you receive them. You would be taxed on the earnings in the account. Selling an ivestment that had appreication from the date of inheritance would use capital gains tax rates.
  • Retirement Accounts-Inherited retirement accounts have specific rules and tax implications. Receiving these type of accounts means that you pay the tax when you take distributions.
  • Roth type accounts such as Roth IRA’s are accounts that have already been taxed and thus, these are tax free to the inherited.
  • Life Insurance Proceeds are generally tax free to the beneficiary

You may also receive assets inside a trust or real estate and both of these have differing tax treatments which will be explained during an engagement to help you make decisions about selling or distributing.

It’s important to consult with a qualified financial planner or CPA to understand the specific implication of each type of account you’ve inherited and develop a comprehensive holistic plan that aligns with your financial goals and circumstances.

Estate planning

Now that you’ve received an inheritance, you should be planning for how your heirs will receive theirs. There are tax strategies to consider. Some heirs are better with money than others. Structuring how they receive the inheritance can have protection so that they don’t spend it all at once.

Investment Planning and my investment Philosophy

The value of evidence based investingTM.
Portfolios are designed to help you achieve your financial goals. Risky practices like trying to time the market, anticipate trends or identify mispriced investments my be highly unreliable ways to build wealth.

Instead, the Evidence-Driven InvestingTM approach is fuled by data and over 50 years of research, and routed in diversification and tax-aware investments. Because in the end, despite the inevitable ups and downs of the market, the Evidence-Driven InvestingTM approach to your portfolio can increase your confidence along your investment journey.

Working with CAROLYN

Working closely with you I take the time to get to know you, understand your unique needs and goals, and create a customized financial plan that is tailored to your individual situation.

I take you through a process called the Northstar FORMula which addresses your investment planning, retirement planning, risk planning, tax planning and estate planning. Basically, all aspects of your financial life are considered.

I show you where you are today and where you want to go with all the possibilities and all the pot holes hiding around the corner. We are your trusted advisor to help you feel safe and secure in your financial future:

  • Prepare for the unexpected and protect yourself from financial disruptions.
  • Understand and build your personal financial security.
  • Identify opportunities to increase your income.
  • Develop a relationship with myself, a Personal Financial Specialist and a CPA who knows you well that you can trust.
  • Get the most return from your investment portfolio at a comfortable risk level.
  • Reduce your financial stress.
  • Make sure that as you age, you have a plan to get the care and assistance you deserve.
  • Proactive coordination with your other professional advisors, including accountants, attorneys, and bankers – all in one place.
  • Acknowledge your financial limitations and decide how much you can share with others.
  • Get a dynamic plan that is renewed annually to keep you on track to meet your financial goals.


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Opening hours

Mon–Fri 9:00AM – 5:00PM

Opening hours

Mon–Fri 9:00AM – 5:00PM

Talk to Carolyn

Talk to Carolyn

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