Protecting Wealth Across Generations
At Trajan Wealth, we often meet people standing at one of two major crossroads:
- They’re preparing to leave an inheritance.
- They’ve just received one.
These are two very different financial journeys, but they share a common thread: both require thoughtful planning, clear communication, and professional guidance. As fiduciary advisors, it’s our job to help ensure the money that took a lifetime to earn is handled with care, whether it’s being passed on or put to work.
For the One Leaving an Inheritance:Planning Your Legacy with Purpose
Leaving an inheritance isn’t just about assets. It’s about values, legacy, and the long-term financial health of your loved ones. Here’s how to approach it with intention:
1. Build a Comprehensive Estate Plan
You’d be surprised how many high-net-worth individuals don’t have a will or haven’t updated it in years. A comprehensive estate plan should include:
- A legally sound will or living trust
- Beneficiary designations on retirement accounts and life insurance
- Healthcare directives and a power of attorney
- A plan for business succession (if applicable)
At Trajan Wealth, we have in-house estate attorneys to ensure every angle is covered.
2. Choose the Right Fiduciary Team
Fiduciaries must act in your best interest — their focus must not be to sell you a product or chase commissions. That distinction matters, especially when navigating legacy planning. Trajan Wealth fiduciary advisors will:
- Discuss tax strategies
- Coordinate asset transfers
- Prepare your heirs for financial responsibility
- Align your investments with your legacy goals
3. Communicate With Your Beneficiaries
Family conflict around money is more common than most people admit. Setting clear expectations now helps reduce confusion (and resentment) later. We encourage you to hold a family meeting, sometimes with your advisor present, to walk through your plan and the “why” behind your decisions.
4. Don’t Forget Non-Financial Assets
You might be passing down real estate, a family business, heirlooms, or even values like charitable giving. Those need to be documented, discussed, and planned for just as much as your bank account. At Trajan Wealth, we have in-house estate attorneys to help with this process.
For the One Receiving an Inheritance:Turning a Windfall into a Foundation
Receiving an inheritance can feel emotionally complex. It often comes during a time of grief, and the pressure to “use it wisely” can be overwhelming. Here’s how to move forward with clarity and confidence:
1. Don’t Make Sudden Moves
Before making major financial decisions, take time to process. Too often, we see beneficiaries:
- Buy high-ticket items too quickly
- Make large gifts or loans to friends/family
- Attempt DIY investing with no clear strategy
Instead, hit pause. Let’s first build a plan.
2. Partner With a Fiduciary Advisor
A fiduciary advisor, like those at Trajan Wealth, will act as your financial quarterback. We help you:
- Understand the full scope of what you’ve inherited (investments, real estate, tax implications, etc.)
- Build a long-term financial plan tailored to your goals
- Avoid common traps like emotional spending or mismanaged taxes
3. Be Tax-Savvy
Inherited assets often come with complex tax considerations:
- A tax rule called the step-up in basis resets the asset’s cost basis to its value on the date of the original owner’s death. This can significantly reduce capital gains taxes if you decide to sell the asset, since you’re only taxed on the gain from the new, higher value, not what the original owner paid.
- Retirement accounts may have required minimum distributions (RMDs) depending on your relationship to the deceased.
- Large inheritances could trigger estate tax or gift tax issues over time.
Working with a fiduciary advisor and estate attorney who understand these dynamics can save you a significant amount of money over time.
4. Invest for the Long Haul
This may be your once-in-a-lifetime opportunity to create financial independence. With a sound investment strategy, you can turn an inheritance into:
- A retirement nest egg
- A college fund for future generations
- Passive income for life
- A charitable legacy of your own
Compound interest takes time, but starting with the right structure puts you miles ahead.
The Bottom Line:
Money Shouldn’t Just Change Hands, It Should Change Lives.
Our fiduciary advisors and estate attorneys help individuals and families navigate both sides of inheritance planning with deep expertise and genuine care. Whether you’re leaving a legacy or receiving one, we’ll help you create a plan that honors your values, protects your wealth, and sets up the next generation for success.
Let’s Talk About Your Inheritance Plan
Whether you’re preparing to pass down wealth or figuring out how to manage a recent inheritance, we’re here to help. Contact Trajan Wealth today to speak with a fiduciary advisor who puts your best interest first, every time.
