According to Cerulli Associates, nearly $70 Trillion will transfer from one generation to the next. For some, an inheritance could be a life-changing event. For others, it could create a new set of problems. If you are inheriting money, what should you do? Todd Kimpel and Nikki Lude share some of their knowledge and experience on what you need to consider when you inherit assets.
- 0:00 – Introduction
- 0:17 – Disclaimer
- 0:40 – Where do you start?
- 2:36 – Dealing with emotional stress?
- 3:59 – Emotional Attachments to Inherited Stock
- 5:38 – Dealing with life-changing money
- 7:10 – Should you pay off debt?
- 9:15 – Tax Issues – Cost Basis Adjustments
- 10:55 – Tax Issues – IRA’s and Qualified Retirement Plans
- 13:33 – Tax Issues – Life Insurance and Annuities
- 15:08 – Disclaimers
- 16:47 – Final Thoughts.
- 18:43 – How to get help with your situation.
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Appearing in This Video
Todd Kimpel, CLU®, ChFC®
Todd began his career as a financial advisor more than 40 years ago. Based in Wheeling, West Virginia, he helps clients with retirement planning and wealth management.
Nikki Lude, CFP®
Nikki is one of our Certified Financial Planner™ Professionals. She has been working with clients since 2003 and is located in Woodsfield, Ohio. She helps clients with comprehensive financial planning and investment management needs.
Neal Watson, CFP®
Neal is one of our Certified Financial Planner™ Professionals. His career as a financial advisor spans more than 25 years. Located in Marietta, Ohio, Neal helps clients with retirement planning and wealth management.
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