Manage an Inheritance

Receiving an inheritance can be a welcome financial windfall, but it may also create new challenges in your financial life.

You may have already received or soon be in a position to inherit assets from a loved one or other benefactor. The question now becomes “what will you do next?” Whether it was expected or not, proper management of an inheritance can be complex. It’s important to carefully assess your inheritance in the context of your overall financial circumstances. U.S. Bank and U.S. Bancorp Investments can offer products and services to help.

Inheritance Takes Different Forms

The common perception is that inheritance involves money passing to a beneficiary. While that is often the case, you also may inherit other types of assets, such as property, a business, family heirlooms or stocks and bonds. Today, many older Americans have accumulated sizable sums in workplace savings plans such as 401(k) plans or IRAs, and assets left in those accounts also need to be distributed to beneficiaries.

  • Receiving a sizable sum of money or other assets of value can seem like a windfall that suddenly gives you more financial freedom. Many feel a sense of wealth they are not accustomed to, and can become less cautious with how they spend their money. We believe this can be a mistake.

    An inheritance should help support your long-term financial plan. Inherited assets can contribute to your key lifetime goals such as:

    • Building your retirement assets
    • Accumulating savings to help pay for college
    • Potentially protecting your family with adequate insurance
    • Saving for other important goals in your life
    • Supporting your favorite charitable causes

    In some cases, the assets left to you could potentially provide you with a stream of income. For example, inheriting a Roth IRA has the potential to generate regular payments of tax-free income that could continue through your life.

  • Before any decisions are made about what to do with your inheritance, contact a financial professional to discuss options.

    It is also important to confer with your accountant and attorney on certain matters, such as having an up-to-date will, medical directives and trusts. Neither U.S. Bank, U.S. Bancorp Investments or their respective representatives provide tax or legal advice. You may need to determine what, if any, tax consequences will result and how to make the most of the assets left to you.

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    We’ll work with you to develop a plan that reflects your goals and dreams, and help you make informed choices about your future.

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“Call to Invest” and “Invest on Your Own” are services offered through U.S. Bancorp Investments.

Investment products and financial services are provided through U.S. Bank and/or its affiliate, U.S. Bancorp Investments.

Investment products and services are:

Not a DepositNot FDIC InsuredMay Lose ValueNot Bank GuaranteedNot Insured by any Federal Government Agency

This information represents the opinion of U.S. Bank and/or U.S. Bancorp Investments and is not intended to be a forecast of future events or a guarantee of future results. This information is designed to be educational and informative. It is not intended to provide recommendations, to provide specific advice concerning retirement accounts and investment planning, or to meet the needs of any particular investor. Investors should consult with their investment professionals for advice concerning their particular situations.

U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. Clients should consult their tax and/or legal advisor for advice and information concerning their particular situation.

For U.S. Bank:

U.S. Bank is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Investments.

For U.S. Bancorp Investments:

Investment products and services are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.

Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License# OE24641.

The Financial Industry Regulatory Authority (FINRA) Rule 2267 provides for BrokerCheck to allow investors to learn about the professional background, business practices, and conduct of FINRA member firms or their brokers. To request such information, contact FINRA toll-free at 1.800.289.9999 or via http://brokercheck.finra.org. An investor brochure describing BrokerCheck is also available through FINRA.