The U.S. is on the verge of the largest generational wealth transfer in history. Over the next two decades, millennials are set to inherit $30 trillion from Boomers, America’s wealthiest generation. COVID-19 has caused many Americans to think about their mortality and the legacy they’ll leave behind.
Possible changes in the Estate Tax law could have a significant effect. Many families are looking at gifting part of their estate to their heirs to avoid these implications. I recently wrote an article for Forbes, where I discuss in more detail the possible changes to the Estate Tax and the effect on high-net-worth individuals.
Click here to read the full article.