As the baby boomer generation closes in on retirement, many are preparing to drop a substantial portion of their wealth on charitable causes, perhaps to their children's chagrin.

Only about half, or 55%, of baby boomers between the ages of 47 and 66 felt it was important to leave a financial inheritance to their children or heirs, according to the 2012 U.S. Trust Insights on Wealth and Worth Survey. Compare that to approximately three-fourths of high-net-worth individuals (with over $3 million in investable assets) in the surrounding generations who felt strongly about bequeathing an inheritance.

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