Received an Inheritance? Learn the First Steps to Take

ClearPath Financial Partners: How to Handle an Inheritance Wisely

“By simply signing the form and saying, ‘Oh yeah, send the money over here,’ can have a tax bomb in conjunction with it.” — Ryan Kittredge

By-Hank Stolz

Photo credit – submitted

Worcester, MA- Receiving an inheritance can be both a blessing and a challenge. On this episode of Radio Worcester, Ryan Kittredge, President of ClearPath Financial Partners, and Financial Planner Molly Brown discuss the critical steps beneficiaries should take after inheriting assets.

Their advice is simple: slow down.

Rather than making immediate decisions, they recommend taking inventory of all inherited assets, gathering paperwork, and understanding the unique tax and legal implications associated with each account. Whether the inheritance includes retirement accounts, investment portfolios, real estate, or cash, each asset comes with its own set of rules that can significantly impact a beneficiary’s financial future.