Financial Advisor for Inheritance: Services and Examples

An inheritance can feel like both a blessing and a challenge. While it may provide new opportunities for financial security, it also brings complex choices about taxes, investments, and long-term planning—often during an emotional time. Without the right guidance, it’s easy to make decisions that diminish the value of what you’ve received. That’s why working with a financial advisor can be crucial. They provide the expertise, perspective and strategies to help you make the most of your inheritance while protecting your financial future.

Why Do You Need a Financial Advisor When You Receive an Inheritance?

Receiving an inheritance can open new financial opportunities, but it also brings complex decisions that can be overwhelming without professional guidance. A financial advisor helps you slow down, avoid rash choices and create a strategy that honors both your financial goals and the legacy left behind.

An inheritance isn’t always straightforward cash. It may include property, retirement accounts or investments, each with unique tax implications. A financial advisor can coordinate with tax professionals to ensure you minimize liabilities and comply with estate laws. Without this guidance, it’s easy to miss important rules that could lead to penalties or erode the value of your inheritance.

A sudden increase in wealth changes your financial picture overnight. Advisors help integrate an inheritance into your broader goals, such as saving for retirement, paying down debt or supporting future generations. By mapping out a long-term plan, you gain clarity and confidence in how to use the money responsibly, rather than letting it sit idle or disappear through overspending.

Ultimately, the role of a financial advisor is to safeguard what you’ve received and help it grow. From investment strategies to estate planning, their expertise ensures that your inheritance isn’t just a temporary windfall but a lasting source of security. For many, this guidance provides peace of mind, knowing that wealth is managed with intention and care.

Services That Financial Advisors Can Provide

One of the most valuable services a financial advisor offers is guidance on investing inherited assets. Rather than leaving the money in low-interest accounts or taking unnecessary risks, advisors help build a portfolio that balances growth with preservation. They tailor strategies to your time horizon, goals and risk tolerance, so the inheritance works for you over the long term.

Additionally, a financial advisor can help you understand the potential impacts of estate taxes, income taxes or capital gains. They work alongside tax professionals to structure withdrawals, asset sales or transfers, aiming to minimize taxes and protect the value of your inheritance.

Advisors also guide you in planning for the future of your own estate. They can recommend trusts, wills and beneficiary designations to ensure your assets are distributed according to your wishes. By addressing these issues early, you not only protect your inheritance but also create a smoother path for those who may inherit from you one day.

How to Find a Financial Advisor to Help With Your Inheritance

The first step in finding the right financial advisor is understanding what kind of help you need. If your inheritance includes investments, real estate or retirement accounts, you may want someone with deep expertise in portfolio management and tax planning. If your priority is building a legacy for your children or supporting charitable causes, look for an advisor with experience in estate and philanthropic planning.

When choosing an advisor, it’s important to prioritize professionals who act as fiduciaries. A fiduciary is legally obligated to put your best interests first. This means their recommendations will benefit you, not their commissions earnings. Asking whether an advisor is a fiduciary is a simple but critical step in protecting your inheritance.

Credentials like Certified Financial Planner (CFP®) or Chartered Financial Analyst (CFA®) indicate a high level of training and commitment to ethical standards. An advisor’s experience working with clients who have received inheritances is also pertinent. The right background can make a significant difference in the quality and relevance of the advice you receive.

Finding an advisor doesn’t have to be overwhelming. Reputable directories, professional associations and matching services like SmartAsset’s free tool are all helpful in the process. They can help connect you with qualified professionals in your area.

Questions to Ask Financial Advisors Before Hiring One

Hiring a financial advisor to help with your inheritance is a significant decision. A good advisor should not only have technical expertise but also the ability to understand your personal goals and values. Preparing thoughtful questions helps you evaluate whether their approach aligns with your needs. Here are some examples:

Are you a fiduciary?
How are you compensated?
What experience do you have working with clients who have received an inheritance?
What professional credentials do you hold (e.g., CFP®, CFA®)?
How will you help me manage taxes related to inherited assets?
What is your investment philosophy, and how will it apply to my situation?
How do you typically communicate with clients, and how often?
What services do you include in your fee, and are there any additional costs I should expect?
Can you provide references from clients with similar needs?

An advisor’s answers will shed light on whether they are equipped to handle your inheritance with care and expertise. More importantly, these conversations help you assess trust, transparency and compatibility.

Bottom Line

Receiving an inheritance can be life-changing, but it also comes with decisions that are too important to make alone. A financial advisor can help you navigate taxes, manage investments and create a plan that balances today’s needs with tomorrow’s goals. By choosing a trusted professional who understands your unique situation, you can honor your inheritance while building a secure financial future.

Tips for Hiring a Financial Advisor

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Before hiring a financial advisor, make sure you meet with them and ask the right questions to ensure a potential match.