Advanced Tax Considerations for High-Net-Worth Individuals

You are a private wealth manager advising a high-net-worth client, Steven, who is 62 years old and has recently inherited a substantial sum from his late parents. His inheritance includes taxable brokerage accounts, tax-deferred accounts, and an estate with significant real estate assets. Steven's primary concerns include optimizing his tax situation, particularly regarding capital gains, income from investments, and his estate plan. He also aims to balance his investment strategy with his desire to support charitable causes.

Discuss the essential tax considerations Steven should be aware of in this situation. Your response should cover the implications of his inheritance across different account types, strategies for tax-efficient investing, and how charitable contributions can play a role in his overall wealth management strategy.