LIFE CHANGES

Make sense of your finances when life changes.

A CLEAR NEXT STEP

Start with what matters most.

A major life change can leave you with new financial responsibilities and unfamiliar decisions. Coast helps you sort through what matters now, what can wait, and how to move forward.

Talk through my next step
A coastal walking path divides into two directions through grassy dunes
WHEN YOUR FINANCIAL PICTURE CHANGES

Support for the chapter you’re in.

After losing a spouse

Understand accounts, income, beneficiaries, and the financial decisions ahead.

During or after divorce

Rebuild a financial picture around your income, assets, spending, and future goals.

Receiving a financial windfall

A settlement, property sale, or other financial windfall can bring big decisions. We help you weigh your options and build a plan around your goals.

WHAT WE HELP YOU REVIEW

Bring the pieces back together.

Income and spending

Build a budget around your new circumstances.

Accounts and investments

Review what you own and how it supports you.

Beneficiaries and account ownership

Identify updates to review after a major change.

Retirement and Social Security

Revisit timing and income decisions.

Cash reserves and immediate needs

Plan for upcoming expenses and uncertainty.

Your next set of goals

Create a plan that reflects the life ahead.

START WITH WHAT MATTERS MOST

Some decisions need attention. Others need time.

Focus on now

Understand your cash needs, gather key documents, and identify deadlines or required account actions.

Give yourself room

When possible, take time before making large investment changes or other major financial commitments.

OUR PROCESS

A steady plan for your next chapter.

01

Get the full picture

We listen, review your finances, and identify the decisions ahead.

02

Set the priorities

We separate immediate needs from longer-term planning.

03

Move forward with support

We build practical next steps and revisit your plan as life evolves.

QUESTIONS YOU MAY BE ASKING

Questions you may be asking.

Can I talk with you before making any big decisions?

Yes. You can start with a complimentary conversation about your circumstances and questions. We help identify what needs attention and explain possible next steps before you decide whether to work with us.

What should I bring to our first conversation?

Bring your questions and a general picture of your finances. Recent account statements, income and expense information, and relevant notices or documents can be helpful. You do not need to have everything organized before we talk.

Do I need to move my accounts to get started?

No. We can begin by reviewing your existing accounts and financial picture. We explain recommendations, services, and fees before you make a commitment.

You don’t have to navigate this alone.

Let’s talk about where you are—and what comes next.

Schedule a conversation

Complimentary. No obligation.

Inheritances

Inherited IRA & Investment Account Guidance

If You Inherited an IRA, You're on a Clock. Most People Don't Know It.

When you inherit a traditional or Roth IRA, the IRS doesn't give you forever. Under the SECURE Act, most non-spouse beneficiaries are required to fully withdraw the account within 10 years — and the decisions you make in year one can cost you thousands in unnecessary taxes. Inherited brokerage accounts work differently and don't carry the same mandatory distribution timeline, but they come with their own decisions. We can walk you through both.

There's no grace period. No do-overs. And most people inherit these accounts without a plan, a strategy, or any idea what options are even available to them.

At Coast Wealth Management, we work with beneficiaries across South Carolina and Tennessee to help them understand what they've inherited, what the rules actually say, and how to keep as much of it as possible.

What We Help You Navigate

01

Understanding Your Options

Every inherited account comes with choices, and each one has tax consequences. We walk you through a beneficiary IRA, lump-sum distribution, spousal rollover, and disclaiming the inheritance so you can decide with full information, not guesswork.

02

Building a Distribution Strategy

Taking too much too fast triggers a bigger tax bill. Taking too little can backfire near year 10. We model a distribution timeline around your income, tax bracket, and financial goals to help you spread withdrawals intelligently.

03

Coordinating With Your Other Accounts

An inherited IRA doesn't exist in a vacuum. We look at how it interacts with your existing retirement accounts, Social Security timing, and any other income sources, so the strategy actually fits your life.

WHAT YOU NEED TO KNOW

The 2019 Rule Change Eliminated a Strategy Many Plans Still Assume

The SECURE Act of 2019 eliminated the "stretch IRA" for most beneficiaries. What used to be a multi-decade tax-deferral tool is now a 10-year clock — and many existing estate and retirement plans haven't been updated to reflect it. If your plan was built before 2020, the inherited IRA strategy it assumed may no longer exist.

Qualified charitable distributions, strategic annual withdrawals, and careful bracket management inside that 10-year window can still dramatically reduce your tax exposure. For beneficiaries who also hold their own pre-tax retirement accounts, coordinating Roth conversions of those accounts alongside inherited IRA distributions is one of the most effective tax planning moves available — but only if someone maps the strategy out in advance.

We're fiduciaries. That means we're required to act in your interest, not ours. We don't earn commissions. We build plans.

Couple reviewing inherited account documents together

Mistakes That Cost Beneficiaries Thousands

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Withdrawing everything in year one and jumping a tax bracket

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Not opening a beneficiary IRA, losing deferral options entirely

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Taking a distribution instead of requesting a trustee-to-trustee transfer — non-spouse beneficiaries cannot roll inherited IRA funds back in once they've been paid out

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Assuming spousal rules apply when you're not the spouse

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Ignoring state tax implications (SC taxes retirement income differently than TN)

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Waiting until year 9 to think about a distribution strategy

These aren't hypotheticals. They're the calls we get after the fact. We'd rather be the call you make first.

Common Questions About Inherited IRAs

  • What is the 10-year rule for inherited IRAs?

    Under the SECURE Act, most non-spouse beneficiaries must withdraw the entire balance of an inherited IRA within 10 years of the original owner's death. There are no required annual minimums within that window, but the full account must be depleted by December 31 of the 10th year.

  • Can I roll an inherited IRA into my own IRA?

    Only if you're the surviving spouse. Non-spouse beneficiaries cannot roll the funds into their own IRA. They must open a separate inherited (beneficiary) IRA and follow the applicable distribution rules.

  • What happens if I miss the 10-year deadline?

    Any remaining balance is subject to a 25% IRS excise tax (reduced from 50% after SECURE 2.0), plus ordinary income tax on the withdrawal. Planning ahead matters.

  • Do Roth IRAs have the same rules for beneficiaries?

    Yes, inherited Roth IRAs are also subject to the 10-year rule for most non-spouse beneficiaries. The difference is that Roth distributions are tax-free, so the strategy around timing changes significantly.

  • Does South Carolina tax inherited IRA withdrawals?

    South Carolina taxes retirement income, including inherited IRA withdrawals, though there are deductions available for taxpayers over 65. Tennessee has no state income tax. We factor your state of residence into every distribution strategy.

  • When should I meet with a financial advisor after inheriting an account?

    As soon as possible, ideally within the first 90 days. Some decisions, like disclaiming the inheritance, have strict deadlines. The earlier you get clarity, the more options you have.

Don't Wait Until Year 9 to Make a Plan

A complimentary review costs nothing. Missing the window can cost a lot. Let's talk through what you've inherited and what your options look like.

Fiduciary • Fee-Based • Independent • Serving SC, NC & TN