Long story short: I've inherited a share in a portfolio from my gran passing

I don't know much about shares dealing on the business end of it (trading I know enough to get by with a few mates who work in the city as devs in this area but it's very different to what I'm working with) but I know I've got the choice of either all shares/cash or a mix and need to decide how I'd like to receive this.

The portfolio itself doesnt mean much to me in terms of what's good/bad, safe/volatile and it's significantly more than I had expected to receive. I'm unsure what decision is right to take and what some implications are if I do (CGT/taxable income (and if any of this is payable on receiving it), investment/reinvestment getting an annuity, using it to get on the housing ladder/start a private pension etc). I could put it in as many tax-free places as possible but I know that ties up what I have and probably isn't a smart use of it

Has anyone got experience in dealing with an IFA? I know they charge fees/comission but I'm interested to know what sort of experiences people have with them and if they are truely unbiased as they claim to be. Going to call a local one in the morning to see what their rates are and what they can offer.

Little bit frustrating as I need to decide by the end of the month but it won't be settled for a while after that

One thing that you will be asked is how much risk you will be willing to accept. You will need to think carefully as it affects the decisions made by the IFA. Also it does depend on the size of the next egg. Your biggest risk right now is that the stock market is looking very pricey on a trailing earnings basis and so you need to be aware that if probate takes its time it could be halved if there is a crash in the mean time. It also depends on what your portfolio is invested in. Another thing to do is make sure that any cash or bank holdings are below the bank deposit protection limits as the new rules are for depositor bail-ins if there is bank failure. Since the banks are still massively over leveraged or their possible counter parties are then that creates more risk.

I think the inheritance tax limit was 350k so if it's valued lower than that you won't pay inheritance tax. I cashed in my Mum's portfolio but can't remember the charges.

From what I gather it's taken before the estate is divided up so it's not too much of a concern there

I think I might just forego it for now as there is plenty of time and when I receive it I can ferret pretty much all of it away in tax free locations that will earn money while I decide what I want to do with it (deposit for a house to either live in or change the mortgage later then let out as a secondary income etc)