More than $100 trillion will be passed on to heirs over the next few decades as the pace of major wealth transfers accelerates, according to a new report.
Research firm Cerulli Associates says $105 trillion will be passed on to heirs by 2048, while charities will receive $18 trillion over the same period.
Baby boomers, the silent generation and other older generations will be the biggest benefactors.
“Nearly $100 trillion is remitted by baby boomers and older generations, accounting for 81% of all remittances.
More than 50% of the total transfer volume ($62 trillion) is expected to come from individuals who are currently high-net-worth (HNW) and ultra-high-net-worth (UHNW), who together represent only two% of all households.”
In the short term, Generation X will benefit more from the Great Wealth Transfer than Millennials.
“Millennials will inherit the most inheritance of any generation over the next 25 years ($46 trillion). However, the generation will
Widows in the Baby Boomer and the Silent…
