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Over the next two decades, we are set to witness the most significant transfer of wealth in history. Baby boomers—those born before 1964—currently control an estimated $190 trillion in assets, with $84 trillion projected to pass to their heirs, according to Cerulli Associates.

This historic shift will impact families, businesses, and financial markets in profound ways. The question is: Are you prepared to receive or pass down this wealth in the most efficient and protected manner?

What’s Being Inherited?

Much of this wealth is tied up in:

• Investment Accounts: Baby boomers have benefited from decades of strong market growth, with many holding substantial stock, bond, and retirement accounts.
• Real Estate: They own 37% of U.S. homes and an even higher percentage of second homes and investment properties, per the Census Bureau.
• Businesses: Nearly 41% of small businesses are owned by boomers, collectively worth almost $8 trillion. While some will be passed down, many are being sold to fund retirements.

For many millennials and Gen Zers, inheriting a home or financial assets will be life-changing. However, without proper estate planning, it can also bring unexpected tax burdens, probate headaches, and legal challenges.

Protecting Your Legacy

A well-structured estate plan ensures your wealth is distributed according to your wishes while minimizing taxes and legal obstacles. Key considerations include:

• Avoiding Probate: Living Trusts can help heirs bypass the costly and time-consuming probate process.
• Tax-Efficient Gifting: Annual gifts of $19,000 per individual ($38,000 per couple) are exempt from taxes and can strategically reduce estate tax exposure.
• Business Succession Planning: If you own a business, a clear plan for transition—whether passing it to family or selling it—will protect its value.

The Bottom Line

The Great Wealth Transfer is here, and careful planning is essential. Whether you’re looking to safeguard your legacy or prepare for an inheritance, having a strategic estate plan in place can make all the difference.

Want to ensure your estate is handled properly? Join one of our free 2-hour Estate Planning Workshops to learn more about how to secure your assets for future generations.

Reserve your spot today.

Thanks for reading.

Christopher E. Botti, Esq.
Certified Specialist in Estate Planning, Trust, and Probate Law

This blog is for informational purposes only and does not constitute legal advice. Every situation is unique, and you should consult with a qualified attorney for advice regarding your specific circumstances.