Thursday, March 17, 2011

Boomer Generation Rich in Inheritances — Estate Planning Needed

The MetLife Study of Inheritance and Wealth Transfer to Baby Boomers reports that Boomers will inherit $8.4 trillion at 2009 levels. The median per person figure is $64,000. $2.4 trillion has already been received.

The study, authored by the Center for Retirement Research at Boston College for the MetLife Mature Market Institute, shows the wealthiest Boomers will be given an average of $1.5 million, while those at the other end of the spectrum will be left $27,000, an amount that represents a larger percentage of the latter group’s overall wealth. Two-thirds of all Boomers stand to receive some inheritance over their lifetime.

Alicia H. Munnell, a co-author of the study and director of the Center for Retirement Research at Boston College, recommends that the subject of inheritance among the Boomers be used to generate family discussions about estate planning. While not everyone will be comfortable engaging on this topic, those who do so will likely find it helpful. A trusted family financial advisor may be useful in this regard.”

For more findings and methodology, or to download the report, go to:

No comments:

Post a Comment