In the News: Stephanie Temporiti Shares Inheritance Planning Insights with Kiplinger
Inheriting a stock portfolio can create meaningful possibilities, but it often happens during a period of grief when making major financial decisions may feel especially difficult.
Stephanie Temporiti, Wealth Advisor and Executive Director at Hightower Signature Wealth, recently spoke with Coryanne Hicks of Kiplinger about the questions beneficiaries should ask before deciding what to do with inherited investments.
Identify What Can’t Wait
Stephanie recommends consulting a financial advisor immediately after receiving an inheritance. That does not mean every decision needs to be made right away.
Some matters, including required distributions, account rules and the tax implications of selling investments, may require timely attention. Other decisions can wait until the beneficiary has had more time to process the loss and consider what they want the inheritance to make possible.
An advisor can also help identify related areas that may need attention, such as estate planning, insurance needs and tax planning.
Create a Plan for Now, Soon, and Later
To help clients move forward without becoming overwhelmed, Stephanie organizes decisions into a “now, soon, later” list. The framework separates what needs to be addressed immediately from decisions that can be revisited in six to 12 months or further into the future.
This approach can provide greater clarity during an emotionally demanding time. It allows beneficiaries to meet important deadlines while giving themselves space before making larger investment and planning decisions.
Once the necessary information is gathered, beneficiaries can evaluate whether the inherited portfolio aligns with their own goals, time horizon and tolerance for risk. Because the investments were originally selected for someone else, they may not be the right fit for the new owner’s financial life.
Think Beyond What to Keep and Sell
Beyond deciding which investments to keep or sell, Stephanie encourages beneficiaries to consider how an inheritance may affect their overall financial plan.
The assets could create opportunities to pay down debt, increase savings, make a career change, support future generations or contribute to meaningful causes. Understanding those possibilities can help someone become a thoughtful steward of what they have received.
As Stephanie explains, “Money is a tool — nothing more, nothing less.” With careful planning, an inheritance can be used not only to strengthen someone’s financial position, but also to support the life they want to lead.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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