“The Growing Opportunity For Wealth Transfer; Not Only For The Wealthy”

The Growing Opportunity For Wealth Transfer; Not Only For The Wealthy,” by Hearts and Wallets, Advisor Magazine

“Nearly two thirds of U.S. households are now involved in intergenerational wealth transfer with growth seen in both wealthy households and lower-asset households affected by the transition from defined benefit to defined contribution plans, according to a new research report by Hearts & Wallets, the independent research and benchmarking firm that specializes in saving, investing and financial advice. … Of the 129.4 million total U.S. households, 79 million (61%) have received, expect to receive, or leave an inheritance, up from 58 million (46%) in 2015. The biggest increase is in households that expect to leave an inheritance, 49.4 million in 2022, up from 34.4 million in 2015. Bequests in the next 20 years are estimated at $17.5 trillion.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

How much of this wealth transfer will be financed by taxpayers because heirs divert it from funding parents’ LTC into their own pockets? Search “Medicaid planning in (your state)” to see how many lawyers and financial advisers specialize in making that happen.