Downloadable Inheritance Timeline Checklist PDF: First 90 Days Strategy

Navigating a large inheritance is one of the most challenging financial events you’ll ever face, arriving at a time when you are least emotionally equipped to handle it. In my near 30 years as a financial planner, I’ve seen how the fog of grief, combined with the complexities of the probate process, can cause families to make devastating mistakes in the first 90 days.

That’s why it’s critical to have a clear roadmap. This guide provides more than just a resource; it offers a step-by-step framework to help you pause, protect your loved one’s legacy, and make strategic decisions.

We’ll walk through the essential first steps, from securing key documents to assembling the right professional team.

Key Takeaways For Your Inheritance Checklist

• What is the very first step after receiving an inheritance? 
  The first step is to pause and protect. Avoid making any sudden financial decisions for at least 48 hours. Focus on locating crucial documents like the will or trust and securing physical assets. This prevents rash choices driven by emotion.
  How can an Inheritance Timeline Checklist help? 
  An inheritance timeline checklist turns an overwhelming process into a structured to-do list. It helps you prioritize critical tasks within specific timeframes (48 hours, two weeks, 90 days) to ensure you stay organized and avoid costly errors. You can download the free checklist here.
  Who should be on your professional team when managing an inheritance? 
  You should assemble an “A-Team” of qualified professionals. This team typically includes a Certified Financial Planner (CFP®) for investment strategy, an estate or probate lawyer to navigate the legal process, and a Certified Public Accountant (CPA) to handle complex tax implications.
  How do I figure out the taxes on inherited assets? 
  Tax rules for inheritances can be complex, involving concepts like stepped-up basis and potential capital gains if you sell an asset. To get a preliminary idea, you can use the Inherited Asset Quick Tax Check & Strategy Finder to understand the basics.

TL;DR Summary of the Inheritance Timeline

• Problem: After a loved one passes, you’re hit with grief and complex financial decisions, leading to costly mistakes.
• Answer: Follow a structured timeline to focus on the most critical tasks first, preventing emotional and reactive choices.
• Insight: The biggest errors happen in the first 90 days. The single most important first step is to pause all financial decisions for at least 48 hours.
• Teaser: Our downloadable checklist provides a clear, step-by-step roadmap for what to do in the first 48 hours, 2 weeks, and 3 months.

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Get Your Free Inheritance Timeline Checklist (+ Watch the Video)

You just inherited money. Maybe a lot of money. Congratulations… but also, take a breath.

Here’s the hard truth: most families make their biggest inheritance mistakes before they even understand what they’ve inherited.

Watch the video below to see how the Inheritance Timeline Checklist works, then download it at the end.

The checklist is your action guide—a simple, step-by-step breakdown of exactly what to do in your first 48 hours, first two weeks, and first 90 days. No guessing. No panic.

After you watch, you’ll have:

• ✅ The printable checklist to guide every decision
• ✅ A clear timeline for staying organized
• ✅ The framework professionals use (now for you)
• ✅ Links to this detailed article for deep dives on taxes, probate, and strategy

This is not investment advice. This is the playbook I’ve developed after nearly 30 years watching families navigate inheritance—and watching the ones who follow a clear system protect their legacy while others scramble.

Scroll down to download the free checklist, or watch the video first if you want the full context.

Inheritance Timeline Checklist

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This isn’t just a to-do list; it’s a strategic roadmap designed to demystify the estate settlement process and transform your financial windfall from a source of anxiety into a foundation for lasting security. It provides the financial safeguards to protect you from common pitfalls and guides you through the critical first steps of a successful wealth transfer.

This tool will help you understand the roles of your fiduciary team—from the Estate Lawyer to the CPA. And master the key concepts, like the stepped-up basis, that are crucial for minimizing your tax liability.

You can also take a look at our Estate Planning Checklist here

How to Use Your Inheritance Checklist: A Strategic Walkthrough

Your checklist is divided into three time-based phases. Each phase is designed to help you focus on the right tasks at the right time, ensuring you move from a defensive position to a proactive, strategic one. Here’s how to approach each step.

Phase 1: The First 48 Hours – The “Financial Triage” & Securing the Estate

The goal of this initial phase is simple: protect the assets and pause. The checklist items here, like locating the Will or Living Trust and ordering certified copies of the death certificate, are the bureaucratic keys that unlock every subsequent step.

Securing physical assets is not just about preventing theft; it’s about fulfilling the legal duty of the Executor to preserve the estate’s value from day one.

The most important action in this phase is inaction: by making no major financial decisions, you shield yourself from making emotional choices you might later regret.

Phase 2: The First Two Weeks – Assembling Your Fiduciary A-Team

You cannot navigate this journey alone. This phase is about building your team of credentialed professionals. The checklist prompts you to schedule consultations with a Certified Financial Planner (CFP®), an Estate Lawyer, and a Certified Public Accountant (CPA). These professionals have a fiduciary duty to act in your best interest, a non-negotiable standard.

Your lawyer is your guide through the probate court system. Your CPA is your defense against tax surprises, helping you plan for potential estate tax (filed on Form 706) and future capital gains tax. Your CFP® is the quarterback who will help you integrate this inheritance into a cohesive life plan.

Phase 3: The First 90 Days – Discovery, Strategy, and the Stepped-Up Basis

This is where you transition from defense to offense. The checklist items in this phase focus on creating a complete asset inventory and understanding its value. The formal appraisal of assets like real estate and stocks is not just for bookkeeping; it is the essential step required to establish the stepped-up basis.

This value, as of the date of death, becomes your new cost basis, which is the key to minimizing or even eliminating capital gains tax when you eventually sell an asset.

This phase also focuses on crucial liquidity planning, creating a budget for the estate’s cash, and a vital but often overlooked step: reviewing and updating the beneficiary designations on your own accounts to reflect your new financial reality and continue the chain of smart legacy planning.

Your Next Steps For Settling Your Inheritance

Navigating the first few months of an inheritance is less about financial wizardry and more about disciplined, thoughtful action. The key is to move from a defensive crouch to a proactive stance.

From my experience, the families who successfully preserve and grow a legacy are the ones who follow a clear plan, much like the one outlined in our checklist. They take a breath, assemble their experts, and refuse to be rushed.

They take a breath, assemble their experts using guides like the American Bar Association’s consumer resources, and refuse to be rushed. Your next step is simple: download the free Inheritance Timeline Checklist. It will be your trusted guide during this complex time. For more in-depth strategies, sign up for our newsletter, where I share weekly insights to help you build lasting wealth and honor the legacy you’ve received.

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Note: The content provided in this article is for informational purposes only and should not be considered as financial or legal advice. Consult with a professional advisor or accountant for personalized guidance.