What is the first thing you should do after you inherit your parents’ stock portfolio?
Start with a financial planning outlook.
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Take a moment to think about your own needs, and determine if the inherited stocks meet those needs.
If not, then decide how to sell them and what to invest in instead.
The important thing is that even though at one time the assets were your parents’ stock, you don’t need to keep the assets invested in the same stocks that they did. Instead, you should create a portfolio based on your current situation, including your own tax obligations.
The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to https://goldsteinongelt.com/radio-show
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