More than a third of Americans (35 percent) do not plan on discussing transfer of wealth with their families, according to new research from Edward Jones. In partnership with NEXT360 Partners and Morning Consult, Edward Jones set out to understand Americans' perceptions of generational wealth and their plans to inherit or pass on wealth, inclusive of not only money and other assets but also values and the importance of health, family and purpose.
The study revealed that nearly half of all Americans (48 percent) plan to leave an inheritance, with 45 percent of those planning to leave it to only their children and 36 percent planning to leave it to both their children and their grandchildren. It is estimated that Baby Boomers and the Silent Generation will pass down a combined $84.4 trillion in assets through 2045, making it critical for younger generations to discuss transfer of wealth with their families — and help make sure they are prepared for what to do with it.