Generational Shifts: Advisor Tools for Fulfilling Clients’ Charitable Wishes

Chances are, you’ve already begun to notice that a major transfer of wealth is happening as your Baby Boomer clients establish financial and estate plans to pass their wealth to their Generation X and millennial children.

The dollars involved are eye-popping. Most attorneys, financial advisors, and CPAs have seen the Cerulli study’s estimate that $124 trillion in wealth in the U.S. will transfer through 2048. The research estimates that most of this wealth – $105 trillion – will pass directly to children, grandchildren, and other heirs. And, notably, the study estimates that $18 trillion will flow to philanthropy.

As the transfer of wealth gains momentum, advisors serve as trusted experts who can help clients not only structure efficient lifetime and estate gifts to heirs, but also help ensure that clients’ charitable wishes are achieved. It’s crucial for advisors to know that The Community Foundation of Frederick County is here to help incorporate philanthropy into clients’ financial and estate plans.

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Source: The Community Foundation of Frederick County