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Talking Inheritance

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Sinopsis

The Puritan poet Anne Bradstreet once wrote, “Wisdom without an inheritance is better than an inheritance without wisdom.”As Baby Boomers age, it’s estimated they’ll leave a tidal wave of wealth to their heirs, perhaps as much as $68 trillion by 2030. But is the next generation ready for that wealth?The Biblical Perspective on Inheritance Anne Bradstreet’s wisdom likely stemmed from Ecclesiastes 7:11-12, highlighting wisdom's value alongside an inheritance. This biblical perspective underscores the importance of preparing heirs with wealth and the wisdom to manage it.Current State of Wealth Transfer PreparednessResearch indicates that while Boomers are poised to make the greatest wealth transfer in history, they may need to prepare their heirs adequately. A study by Edward Jones revealed that while 48% of Americans plan to leave an inheritance, only 27% have discussed wealth transfer with their heirs, leaving many millennials and Gen Zers unprepared.The Impact of Longer Lifespans on Inheritance Longer lifespa