Managing Your Inheritance Wisely

We are in the midst of one of the most substantial intergenerational transfers of wealth in history. Referred to as the “Great Wealth Transfer,” it is expected to continue for another couple of decades. Baby boomers are the primary source of the wealth being transferred to younger generations across the United States. Some estimates put the amount of assets that will be transferred at over $68 trillion.

This transfer has the potential to reshape individual financial futures and the broader economy. For many, this inherited wealth will provide opportunities that weren’t previously available, such as early retirement, investment opportunities, or funding for personal passions. However, it can also come with complexities that require careful planning and decision-making.

Read more for a guide to approaching and managing an inheritance wisely.

If you are receiving an inheritance or have questions about estate planning, give us a call at 605-275-5665.