During the next several decades, the largest inter-generational transfer of wealth in history is expected to occur.
Researchers estimate roughly $25 trillion in wealth will be handed down by the parents of the boomer generation, with $7.2 billion going directly to boomers. Understanding the importance of legacy planning in this process, along with the emotional and psychological impact of wealth on these families, is critical in order to ensure the successful financial transfer of these funds. As a result, a significant role will be created for financial advisors to families of wealth as they navigate families through these potentially treacherous waters.
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