Inheritance Financial Advisors in Philadelphia

Have you received an inheritance? Our Philadelphia-based fiduciary advisors can help you manage inherited assets, minimize taxes, and build long-term wealth.

We Help You Manage an Inheritance

When you inherit assets, whether from your parents, grandparents, or another relative, you need a clear, personalized plan to manage and grow your newfound wealth. At Liberty One Wealth, we specialize in providing financial advisory services covering a wide range of asset types, ranging from real estate and taxable accounts to IRAs and 401(k)s.

If you’re wondering what taxes to pay on inheritance, want to build a diversified investment portfolio, or are planning to use it to grow your wealth, we can guide you. We use a holistic approach to help you make informed decisions about your inheritance that align with your financial goals. We act as a trusted partner, working with you to prioritize your needs, so you can build lasting wealth from assets you inherited.

Inherited IRAs and 401(k)s

We help you understand distribution rules, timing decisions, and how inherited retirement accounts can fit into your larger financial plan.

Real Estate

We assist you in evaluating whether to keep, sell, transfer, or incorporate inherited property into your long-term wealth strategy.

Stocks and Investment Accounts

We can manage inherited brokerage accounts, diversified portfolios, and concentrated stock positions with a tax-aware strategy.

Trust Assets and Cash Inheritances

We help you make informed decisions about trust distributions and liquidity, so your inherited wealth supports future goals.

Common Inheritance Mistakes to Avoid

Moving Too Quickly

When you make major financial decisions without planning things first, it leads to unnecessary tax costs you could have avoided.

Letting Cash Sit Idle

You may think that leaving inherited assets alone is a good idea, but it can delay progress towards your long-term financial goals.

Ignoring Tax Consequences

Not planning for tax responsibilities that come with inherited assets, like tax-deferred accounts, can lead to unexpected tax bills.

Failing to Update Your Investment Plan

When you receive an inheritance, your investment strategy, retirement plan, and estate documents may need updates.

Not Reviewing Asset Allocation

You may inherit concentrated positions in stocks or real estate that don’t align with your financial plan, and holding these positions can make you vulnerable to risk.

Going Without Advice

Managing inherited assets without getting fiduciary guidance first can lead to missed opportunities and costly errors that make you pay more in taxes.

Our Inheritance Planning Process

Discovery

We start with a discussion about your financial goals, family dynamics, inherited asset details, and immediate planning concerns.

Asset & Tax Review

We review the types of accounts inherited, ownership structure, distribution rules, and potential tax exposure in Philadelphia.

Tax and Legal Guidance

We work with tax professionals and legal experts to minimize taxes and ensure compliance with state inheritance tax laws.

Ongoing Guidance

We continue monitoring and adjusting your investment plan as your life, portfolio, and objectives change.

Why Choose a Fiduciary for Your Inheritance Planning

Besides investment management, inheritance decisions usually involve taxes, timing, family considerations, and long-term planning. As a fiduciary firm, Liberty One Wealth gives advice centered on your best interests, with guidance that helps you make informed decisions during a major financial transition.

Fiduciary Advice

As a fee-only fiduciary firm, we offer conflict-free, impartial advice based solely on your financial goals and needs, rather than commissions or sales.

Philadelphia-Based Team

As our client, you benefit from local access and personalized support from an experienced advisory team.

Tax-Aware Planning

We help you coordinate investment decisions with tax realities that come with inherited wealth.

Transparency

We have a straightforward fee structure, so you get no hidden costs, just a focus on your financial well-being.

What Our Clients Say

These are unsolicited, third-party reviews and are not representative of all clients, nor are they a guarantee of future performance. Some of these reviewers are current clients. They have not been compensated for their testimony and there are no material conflicts of interest arising from the relationship with the reviewer.

Ruben

2025-08-22

Awesome service, timing and price! I used to work with one of the bigger well known carries – not anymore. BestCare safely and securely transported my 66 Shelby GT350…

Josh Jones

2025-08-14

Great communication with this broker,

would work with them again!

Jayce

2025-08-13

The team at BCAT logistics are awesome! My load from ga to Tn was smooth thanks to them! 5 stars all the way!

What is an inheritance financial advisor?

Your inheritance financial advisor helps you evaluate inherited assets, understand tax implications, and create a plan for how that money or property fits into your long-term goals. Besides investment management, their role includes decision-making, coordination, and helping you avoid costly mistakes.

Do I need a financial advisor for inheritance money?

Not every inheritance needs ongoing advisory services, but you can benefit from professional guidance if multiple assets like retirement accounts and real estate, or multiple beneficiaries are involved. An advisor can help you understand your options and make decisions according to your future goals and current financial picture.

What should I do first when I inherit money?

Your first step should be avoiding any sudden financial decisions and pausing to understand what you’ve inherited. This means identifying the account types, ownership structure, beneficiary rules, and any tax or distribution deadlines.

Do I have to pay taxes on inheritance?

When you receive an inheritance, it’s usually not treated as ordinary income, but specific assets can still have tax-related consequences. Inherited retirement accounts, investment gains, and the sale of inherited property may require tax planning, according to the IRS.

What if I inherited an IRA?

When you inherit an IRA, the rules depend on your relationship to the original owner and the type of IRA in question. You may need to follow specific withdrawal schedules, and the rules can affect how much you pay in taxes, so it’s important to consult a financial advisor first.

How long do I have to withdraw money from my inherited IRA?

If you’re a non-spouse beneficiary, you must fully distribute an inherited IRA in 10 years, though some eligible beneficiaries follow different rules. The exact timeline depends on your beneficiary status and whether the original owner of the IRA had already begun required distributions.

Can I roll an inherited IRA into my own IRA?

If you’re a surviving spouse, you have options that other beneficiaries don’t, including the ability to treat the inherited IRA as your own in certain circumstances. But if you’re a non-spouse beneficiary, you must keep inherited retirement assets in a properly titled inherited account.

Should I cash out an inherited IRA right away?

Though you have the option of withdrawing a lump-sum amount, it’s not the most tax-efficient choice. Usually, you’re better off spreading distributions over time to reduce the risk of a larger tax burden in a single year.

What should I do with inherited stock?

If you’ve inherited stocks, review them with a financial advisor in the context of your broader portfolio, tax position, and risk tolerance. Sometimes, inherited assets, especially concentrated positions, can leave you overexposed to a single company or sector, putting you at greater risk.

What should I do with inherited real estate?

Evaluate inherited real estate based on your future financial goals, cash needs, tax considerations, and the cost of keeping or managing the property. For some people, holding the property makes sense, while others find that selling or transferring it is a better fit.

Can receiving an inheritance change my financial plan?

Yes, receiving an inheritance can affect your investment strategy, retirement timeline, tax planning, estate plan, and near-term cash flow decisions. You should evaluate inherited assets as part of your complete financial plan instead of in a vacuum, and update your financial strategy accordingly.

If you’ve inherited a retirement account, investment assets, real estate, or cash, we can help you weigh your options and move forward with clarity to meet your future financial goals. Schedule a free consultation with Liberty Wealth One to discuss your next steps.

Contact

Tel: 215-608-9436
Fax: 215-392-7363

Address

2001 Market Street Suite 2500 Philadelphia, PA 19103