Lack of Inheritance Discussions and Unpreparedness Among Wealthy Parents
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- 1Cerulli Associates projects that the scale of the great wealth transfer in the United States will reach $124 trillion by 2048.
- 2Last year, 68% of parents aged 55 and older with investable assets of $500,000 or more surveyed by Fidelity responded that they had not informed their children about whether or not they would inherit assets or the details of the inheritance.
- 3A Bank of America survey found that among Americans with investable assets of $3 million or more, 47% believe the next generation is prepared to take over family philanthropic endeavors.
So what's the key point?
A massive amount of wealth is expected to pass to children in the United States. However, many parents do not disclose inheritance details, and children are often unprepared.
Source Fortune · View original ↗
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