The Great Wealth Transfer: Five Actionable Steps

Through 2048, an estimated $124 trillion in wealth is expected to pass from older to younger generations in the U.S. Additionally, $50 trillion will pass laterally to surviving spouses, the large majority of whom will be women, before making its way down to children. Known as the Great Wealth Transfer, it comes with responsibility for both the owners and inheritors of wealth. Here, five steps are outlined to help you and your family prepare for the change that also represents a shift in power with younger generations stepping into their financial strength.