What Should You Consider When Passing On a Big Inheritance?

October 23, 2019

Even though receiving inheritance might seem like a welcome windfall for people in your family, there are some setbacks associated with receiving a substantial inheritance.

Every year it’s estimated that over 1.7 million American households receive some form of an inheritance. However, within just a couple of years following that windfall, nearly three-quarters of beneficiaries have lost that inheritance, and more than one-third of all inheritors who recently responded to a study stated that there has been a decline in their wealth or no change at all in their wealth after inheriting assets or money.

Inheritances can come with strings attached, especially depending on the type of asset. Some of the setbacks faced by beneficiaries when inheriting property, investments and cash can include:

  • Family conflicts
  • Unexpected tax consequences
  • Unplanned impact on government benefits

Considering all of these issues is an important step for anyone engaged in the process of putting together their own estate planning. Schedule a consultation today with an experienced estate planning lawyer to discuss which, if any, of the above listed challenges could potentially impact your family, and the planning strategies and tools you can use to address that.       


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

OBBB 2025 Playbook: A Business Owner’s Guide to the New Tax Law

The One Big Beautiful Bill Act spans more than 800 pages and rewrites entire sections of the Internal Revenue Code, from individual rates to international sourcing ...

<p>The post OBBB 2025 Playbook: A Business Owner’s Guide to the New Tax Law first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Estate Planning for the Middle Class: Why It Matters Even If You’re Below the Tax Threshold

Think estate planning is only for the ultra-wealthy? Discover why the middle class still needs wills, trusts, and POAs—even if you’re under the estate tax exemption in 2025. With the federal estate tax exemption set at $13.99 million per individual in 2025, many families assume estate planning is only relevant to the ultra-wealthy. ...

<p>The post Estate Planning for the Middle Class: Why It Matters Even If You’re Below the Tax Threshold first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

The Great Wealth Transfer is Here: What It Means for Your Family and Legacy

Explore the implications of the $84.4 trillion wealth transfer from baby boomers to heirs, and learn how to prepare your family and legacy for this unprecedented shift. Understanding the Scale of the Transfer The magnitude of this wealth transfer is unprecedented. Baby boomers alone are set to account for $53 ...

<p>The post The Great Wealth Transfer is Here: What It Means for Your Family and Legacy first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>