Reported 12 months ago
As a significant wealth transfer occurs from one generation to the next, Americans are urged to have 'the money talk' with their parents about inheritances. Research shows that nearly half of Americans plan to leave an inheritance, totaling an estimated $84 trillion between now and 2045. However, only a quarter of Americans have had these crucial conversations. Strategies like discussing downsizing, incorporating financial planning discussions, starting conversations at holiday gatherings, and having formal family meetings can help navigate this sensitive topic and ensure a smooth transfer of assets.
Source: YAHOO