The Great Wealth Transfer – How Will It Affect You?

What is the Great Wealth Transfer and how will this affect tax and estate planning in the months and years to come?

The “baby boomers” (those born between 1946 and 1964) represent a substantial portion of the US population. Roughly 10,000 baby boomers turn 65 every day here in the US. It is estimated that almost $60 trillion of wealth will pass to the children, heirs and beneficiaries of baby boomers in the coming years.

Are you prepared for the Great Wealth Transfer? The transfer of wealth will occur regardless of the tax and estate planning of this generation. The question isn’t whether the transfer will take place, but how much of this wealth will be needlessly surrendered to tax authorities and probate expenses along the way.

How should you start planning for the Great Wealth transfer?

Tax and estate planning isn’t for the “wealthy.” Anyone who owns a home in California needs to have an estate plan. We can help you prepare and avoid costly probate costs. Contact us today to start the conversation, and to assure that you are prepared for the Great Wealth Transfer.

Read more here: https://allenbarron.com/are-you-prepared-for-the-great-wealth-transfer/