By Heather Goodin EBS CONTRIBUTOR
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Grief has a way of rearranging our priorities. A client walks into the office, eyes tired, voice unsteady. She has just inherited a meaningful sum from someone she loved deeply — yet the money feels heavy, almost intrusive. She signs the paperwork, moves the assets into her name, and leaves quickly. She can’t imagine reviewing the accounts; they feel like a reminder of what she lost, not a gift meant for her future.
This experience is far more common than people realize. Inheritance often arrives at the intersection of heartbreak and responsibility, and it’s completely normal to feel conflicted. Our role is to help clients navigate that tension with clarity and compassion. A few guiding principles can make the process gentler:
- Pause before making big decisions — The first months after a loss are not the time for sweeping financial changes. Give yourself permission to simply breathe and handle the immediate estate tasks.
- Understand what you’ve inherited — Different accounts come with different rules, tax considerations, and timelines. A review with your financial advisor can help you avoid surprises and identify opportunities, such as a step-up in cost basis.
- Make the portfolio your own — Investments built for someone else’s stage of life may not align with your goals. A thoughtful review ensures the portfolio supports your future, not your loved one’s past.
- Consider philanthropic ways to honor their legacy — If the assets feel emotionally difficult to keep, donating them or establishing a foundation can transform grief into impact. Philanthropy may also offer tax advantages, depending on your approach.
At the heart of all of this is trust — trust in your advisor, trust in the process, and trust that your loved one wanted the best for you. While none of us would choose money over more time with the people we cherish, we can choose to manage inherited wealth with intention, gratitude, and wisdom.
Heather Goodin is a Registered Client Relationship Manager at Shore to Summit Wealth Management. She currently works and lives near the Melbourne, FL office with her husband and daughter.
Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. Asset allocation and diversification are investment methods used to help manage risk. They do not guarantee investment returns or eliminate risk of loss including in a declining market.
Wells Fargo Advisors Financial Network does not provide legal or tax advice.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Shore to Summit Wealth Management is a separate entity from WFAFN.
