Intergenerational Wealth Transfer

Intergenerational Wealth Transfer

Intergenerational Wealth Transfer 1200 900 Integral Private Wealth

TRANSFER YOUR WEALTH TO YOUR NEXT GENERATION

When discussing estate planning and the transfer of wealth, the conversation is mainly about identifying the key participants, such as the executor and beneficiary.

A question we should ask ourselves is whether you will be leaving behind an inheritance or a legacy? What do we mean by this? It’s been said that 70% of wealthy families lose their wealth by the second generation, and 90% by the third*. While you may not think of yourself as being ‘wealthy’, consider this: Currently, Australians aged 60+ have produced in total 7,522,009 children. If, for example, 70% of their current total wealth ($3.5 trillion) were to be transferred to them, then each child would receive roughly $326,000^.

There are several things that you can do now to make sure your child is appropriately ready for this in the future. Click the button to see a short but informative video.

*Williams, R., & Preisser, V. (2010). Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values.
^NMP Education & McCrindle Research. (2017). Wealth Transfer Report.

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