Purposeful Inheritance Plan
This plan is perfect for people who suddenly find themselves responsible for substantially more wealth than they have ever handled before and would like guidance on how to manage it wisely in a way that both honors the legacy and expands the opportunities that it can create.
Together We Will:
- Customized RightCapital Purposeful Inheritance Plan to document actions for the confident stewardship of your inheritance and the opportunities for putting this new wealth to use in ways that improve your life, your family’s lives, and/or the causes and organizations you wish to support.
- Comprehensive financial plan that inventories all inherited assets with prioritized action steps tailored to the inherited assets and your goals.
- An inheritance Cash Flow plan to show what is possible with new wealth and specific guidance for managing money at a scale you may not be used to.
See FAQ’s below for additional details on the Purposeful Inheritance Plan.
What It Costs:
- With ongoing asset management - 1% of assets managed ($400,000 asset minimum) with tiered pricing for assets over $1 million
- Or
- Flat Fee plan - $3,000-$7,500 depending on complexity of plan. Complexity is based on number, type, and value of inherited assets. Ongoing asset management not included.
Purposeful Inheritance Plan FAQs
What is the Purposeful Inheritance Plan?
The Purposeful Inheritance Plan is a comprehensive financial planning service designed to help you make thoughtful decisions after receiving a meaningful inheritance. We’ll help you understand what you’ve inherited, navigate the financial and tax decisions that come with it, and determine how your inheritance fits into the rest of your financial life.
Most importantly, we’ll help you think beyond the money itself. Together, we’ll explore how your inheritance can provide greater security, create new possibilities for you and your family, and honor the legacy of the person who left it to you.
Do I need to make decisions about my inheritance right away?
I don't want to mess up handling this money that my loved one created during their lifetime - can you help me figure out how to responsibly put it to use?
Absolutely. This is one of the most common concerns we hear from people who receive a meaningful inheritance. Your Purposeful Inheritance Plan will help you determine how much should be preserved for your future, how the assets should be invested, and how much flexibility you may have to use some of the inheritance to improve your life today. That could mean retiring earlier, changing careers, taking better care of yourself, helping family, supporting causes you care about—or simply creating more financial security. The goal isn’t just to preserve what your loved one left you. It’s to use it thoughtfully and purposefully.
Do I have to pay taxes on an inheritance? Can you help me figure out how this will change my tax situation?
What do I do once I learn I'm receiving an inheritance? Can you help me figure out how and when I'll actually receive it?
Yes. Inheriting money can involve much more than simply receiving a check. You may be dealing with investment accounts, retirement accounts, real estate, trusts, insurance proceeds or other assets, each with its own process and decisions. I’ll help you understand what you’re receiving, what needs to happen next and which decisions can wait. We’ll put together a plan and work through it step by step.
Do I need a lawyer or CPA in addition to a financial planner?
Depending on your situation, you may need an estate attorney, CPA or other professionals. You won’t have to figure out how all of those pieces fit together on your own. I’ll serve as a central coordinator for your professional team, helping to communicate key information, keeping everyone on the same page and moving the process forward.
What happens if I inherit real estate with other beneficiaries and we don't agree about what to do with it?
This is a common—and sometimes emotional—inheritance issue. One beneficiary may want to keep the property while another wants to sell. We’ll help you evaluate the financial implications of the available options, which could include selling the property, one beneficiary buying out another’s interest, or continuing to own it together. When necessary, we’ll coordinate with your attorney, CPA and real estate professionals to help you work toward a solution.
How will this inheritance affect my overall financial plan?
An inheritance can change much more than your investment portfolio. It may affect when you can retire, how much you need to save, how much risk you need to take, whether you should pay off debt, how much you can give to family or charity, and what you may eventually leave to the next generation. We’ll update your financial plan and help you understand not just what you inherited, but what is prudent now and possible in the future.