Financial Advisor After an Inheritance in Houston
This page is for heirs and executors. It gathers Post Oak’s seven inheritance guides, from the first weeks to the taxes that follow.
At Post Oak Private Wealth Advisors, we work with surviving spouses, adult children, and executors who are navigating exactly this process, often simultaneously managing grief, family logistics, and financial decisions that interact in ways that are not always obvious at first.
Post Oak operates under a fee-based fiduciary advisory model, with recommendations evaluated in the context of each client’s financial needs, goals, and best interests.
First Steps After an Inheritance
In the first weeks, secure the property, order certified death certificates, find the original will, and gather account statements. The guide walks through what to protect now, what to collect, what to leave alone, and who to bring in.
Read the guide: What to Do After Receiving an Inheritance
Your First 90 Days
Our checklist is organized by timeframe, from the first week through day 90. Use it to manage the first 90 days after a loss: taxes, account transfers, recordkeeping, and key financial deadlines.
Read the guide: The Inheritance Checklist for Your First 90 Days
Inherited IRAs and Retirement Accounts
The inherited IRA 10-year rule requires most non-spouse beneficiaries to fully withdraw an inherited retirement account by the end of the tenth year after the owner's death. Some beneficiaries also have to take a distribution every year along the way.
- The Inherited IRA 10-Year Rule: who must empty an inherited IRA within ten years, and when yearly withdrawals apply.
- Inherited IRA vs. Inherited Roth IRA: how taxes and withdrawal rules differ between traditional and Roth inherited accounts.
Step-Up in Basis
Under IRC §1014(a), a beneficiary who inherits property generally takes a basis equal to the asset's fair market value on the date of the original owner's death.
Read the guide: Step-Up in Basis on Inherited Assets. It covers each asset type, including Texas community property.
Inheriting Real Estate in Texas
A mortgage does not pause because a borrower died. Property taxes accrue whether or not probate has concluded.
The guide covers title, the mortgage, insurance, the Texas homestead exemption for heirs, and decisions among co-owners.
Read the guide: Inheriting Real Estate in Texas
Coordinating the Taxes
Income tax, capital gains tax, the Net Investment Income Tax, and potentially estate tax can all arrive in the same year, sometimes triggered by the same transaction.
- Tax Planning After Inheritance: inherited IRA withdrawals, basis records, charitable options, IRMAA and estate filings.
- Multi-Year Tax Planning: planning income, gains and distributions across several years instead of one return.
- Capital Gains in a Major Transition: basis, holding period, rates, loss harvesting and estimated taxes after a large gain.
If You Inherited From a Spouse
Different rules apply when you inherit from a spouse, including for IRAs and, in Texas, for community property. Our page for widows and widowers brings those guides together: Financial Advisor for Widows in Houston.
How Post Oak Works With Your Attorney and CPA
A probate attorney is essential if you are the executor. A CPA reads the tax implications, and a financial advisor fits the inheritance into your own retirement, tax, and investment picture.
At Post Oak Private Wealth Advisors, coordinating those specialists sits at the center of our legacy planning process, so the legal, tax, and investment pieces move together rather than against each other.
The firm’s role is financial planning and coordination; it does not draft legal documents or provide legal advice, and wills, trusts, powers of attorney, and related documents should be prepared and reviewed by qualified legal counsel.
Who You Will Work With
Robert M. Wyrick, Jr.
Robert M. Wyrick, Jr. is Managing Director and Chief Investment Officer at Post Oak Private Wealth Advisors, a Houston-based fiduciary wealth management firm serving individuals, families, executives, retirees, and business owners through integrated financial planning, tax-aware retirement distribution planning, and risk-managed portfolio management.
Marium Murphy, CFP®
Marium Murphy, CFP®, is Executive Director of Financial Planning at Post Oak Private Wealth Advisors, where she leads the firm's comprehensive financial planning practice.
Frequently Asked Questions
What should I do first after receiving an inheritance?
In the first weeks, secure the property, order certified death certificates, find the original will, and gather account statements. Hold off on selling, cashing out, or gifting anything until the tax and legal picture becomes clear.
What is the inherited IRA 10-year rule?
The inherited IRA 10-year rule requires most non-spouse beneficiaries to fully withdraw an inherited retirement account by the end of the tenth year after the owner's death. Some beneficiaries also have to take a distribution every year along the way.
Do inherited assets get a step-up in basis?
Under IRC §1014(a), a beneficiary who inherits property generally takes a basis equal to the asset's fair market value on the date of the original owner's death. Traditional IRAs, 401(k)s, and other pre-tax accounts carry no basis adjustment. Our step-up in basis guide explains which assets qualify.
What costs come with inheriting a house in Texas?
A mortgage does not pause because a borrower died. Property taxes accrue whether or not probate has concluded. Our guide to inheriting real estate in Texas lists the other carrying costs.
Schedule a Consultation
We offer a complimentary introductory conversation, with no cost and no commitment. Contact our team or call 281-580-2100.
This page is for general information and is not individualized investment, tax or legal advice.