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The Biggest Generational Wealth Transfer is Coming

  • Oppenheimer & Co. Inc.
  • February 4, 2020

How to Prepare the Next Generation

generational wealth
The Great Migration

In the upcoming years, trillions of dollars and assets will be passed from Boomers to later generations, such as the biggest beneficiary, Generation X. Within 25 years, Generation X will become the wealthiest generation following the unprecedented, vast wealth transfer. With this transfer of wealth comes planning and preparation for both the benefactors and inheritors.

Start the Conversation

Discussions about money can be difficult and awkward for many families. However, it is important that benefactors who are passing down their wealth to future generations begin the conversation around the inheritance they are leaving behind. These conversations will help set the expectations for the transfer as well as create objectives for the outlook of the inheritance.

A benefactor may have specific plans for how their wealth transfer will be used or even the values they want their inheritor to carry out when using inheritance funds. Through discussion, the benefactor can clearly outline what is going to be left behind and how it should be put to use. Additionally, the inheritor can become more confident about the transfer of wealth they are receiving as decisions around how to integrate it into their lives will be easier to execute. Conversation is the first step to a seamless transfer of money, valuables, and assets.

Establishing a Financial Plan for Future Generations

Benefactors should revisit their assets to fully understand what they will be transferring and how to maximize it before it is time to pass it on. Maximizing is important not only for the benefactors but also for the inheritors.

An inheritance can reshape one’s financial plans. Therefore, creating a financial future with the inheritance will position the inheritor for a better outlook than spending it all. Understanding the scope of an inheritance and planning how to allocate the wealth will set the inheritor up to maximize the lifespan and value of the transfer.

Oppenheimer Financial Advisors can help both benefactors and inheritors understand how the upcoming wealth transfer will look for them, facilitate conversations about expectations, and aid in the creation of a financial plan for the inheritance. Our Advisors care about you and your legacy while acting in the best interest to help prepare the future generations for financial success and wellbeing.


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