Surviving Spouses & Recent Inheritance

Changes in your life and financial situation can impact the tax, investment and financial planning roadmap that you should follow to achieve your goals.  Working with an advisor at this crucial junction will enable you to obtain clarity about the immediate and long term strategies that will benefit you as you navigate the changes brought about by the loss of your spouse or the receipt of an inheritance.

Estate Wealth Management Services

Estate Administration & Trust Settlement

A financial advisor can help you identify the assets that are subject to Estate Administration or Trust settlement. We help you determine which decisions need to made right away versus which ones can be delayed. Working in collaboration with your estate planning attorney, we assist in completing the paperwork necessary to distribute the decedent’s investment accounts to their intended heirs and beneficiaries.


By ensuring that tax basis has been stepped up appropriately for investment accounts and that IRS distribution requirements on inherited retirement accounts have been met, we help you garner tax savings for decades to come.  A change in marital status changes your tax-filing status which can result in higher tax rates, the loss of certain tax breaks, and a smaller standard deduction.  Receipt of an inheritance can also impact your current and future tax rates. We can offer guidance regarding what tax strategies may be the most advantageous.


We help you understand what updates may be needed to your own estate planning documents to make sure that you are protected during your lifetime and to address how your assets will pass on to your heirs. We assist with re-titling accounts and updating beneficiary designations to reflect your revised estate plan.

Financial Planning

It is important to obtain objective advice before making decisions with retirement accounts, pension plans, Social Security benefits etc. We can assist surviving spouses to get a clear understanding of how the loss of their spouse may impact their financial plan. We can model the effect of a reduction in Social Security/pension benefits, receipt of an inheritance, downsizing or relocation, return to work and adjustment of retirement portfolio withdrawal rates on your overall financial plan so that you minimize the risk of outliving assets.

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Investment Management

Surviving spouses/recent heirs are vulnerable to making costly investment mistakes when purchasing new investment products or investing life insurance benefits. We can help you understand the pros and cons of different investment vehicles, create your own investment strategy that is reflective of your investment risk tolerance and build a new foundation to support your financial well-being.

Insurance Planning

The loss of a spouse can have a substantial effect on your health, life, disability and long term care insurance needs. Receipt of an inheritance can modify how much insurance you will need. We can help you assess your insurance requirements and understand your insurance options so that you can obtain the right insurance for your needs.

Get Help from a Trusted Inheritance Advisor

When your life and financial situation changes, working with a trusted inheritance advisor at Wade Financial Advisory can help you make informed financial decisions about your inheritance and help you plan for your goals and dreams.

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