How do I add an Inheritance to my plan?

To model an inheritance in inStream, we recommend adding a one time contribution into an account with the same tax status as the monies received. The contribution start and end date should reflect the year the inheritance is expected to be received.

Example:  A client expects to receive a tax-free $500,000 inheritance 5 years from now in 2020. The money would come over as a lump sum and would get invested into a taxable portfolio.

1. Go to Finances>Create New Account


2. Name the account Inheritance, choose the Taxable category and set the account value at $0


 3. Add a one time contribution that starts and ends in year 2020.  


Since the inheritance may not happen until 5 years down the road, the value of the account is $0 until the money comes in. Once the contribution is made to the taxable account, the cost basis will be updated in the analysis and capital gains will be owed on any appreciation upon any subsequent sale of these assets.

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