Episode 46: How to Steward Your Inheritance Well
by Financial Design Studio, Inc. / June 21, 2024In this episode, we pick up from episode 45 on how to steward inheritances well. Once the money is in your account, how to do process the emotions and decide where to put that money now?
Take a listen right here, or head over to your favorite steaming platform!
Key Moments
1:49 How to process receiving an inheritance
16:29 What’s the right use of inherited funds?
26:04 How to give from an inheritance
39:40 Closing thoughts
Links Related to Stewarding Your Inheritance
Listen to part one of this conversation in episode 45, “Understanding the Inheritance Process.”
Wondering what your next steps are? Find our Estate Planning Checklist here!
To learn more about each role, listen to episode 25, where we interview Heather Walser, an estate planning attorney.
Stay Connected!
If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about money. We’ll see you in the next episode.
Credits for Episode 46
Executive Producer and Host : Anna Lewis
Guest : Michelle Smalenberger, CFP®
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Recommended Reading
Episode 62: How to Plan for RMD Taxes
In this episode, we explain how to plan for RMD taxes in advance of retirement, plus how this works for inherited accounts too!
Episode 61: A Crash Course on Equity Compensation
In this episode, we breakdown different forms of equity compensation, and strategies to exercise them in a tax efficient way.
Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.