我想我的孩子s to inherit a world where people succeed because of merit and hard work, not entitlement, and where people accept others for what they are and not try to change them. –盖川崎
As I have mentioned previously, my children generally read the first paragraph of my column to see if they have been mentioned. Kids, you can stop reading, you aren’t mentioned! Now that they have closed the paper, they won’t see that their father is human. I can go ahead and admit to a mistake that I made in last week’s column. I inadvertently referred to Harvard Law professor Cass Sunstein as a ‘she’. Cass is a man and I am sorry for the mistake. Thanks to two alert readers who let me know of the mistake.
We are in the early stages of the greatest wealth transfer known to mankind. In my non-scientific study, I think that the overwhelming amount of my recent meetings have touched on the inheritance topic in one way or another. Discussing the massive expected wealth transfer Andrew Osterland of CNBC.com wrote, “This Great Wealth Transfer is about to kick into a higher gear. As much as $68 trillion will change hands between various generations over the next 25 years, according to Cerulli Associates.”
This huge amount of money that will change hands poses challenges for both parents and children.
Earlier this week I sat with a couple and as we were talking the issue of inheritance came up. They had a similar approach as I have and they did not at all want to speak about potentially coming into a lot of money. They repeated that “we don’t want to rely on it, and want to make it on our own.’ I couldn’t agree more with this philosophy. Try planning your finances based on what you have, not what you may or may not receive. If you are planning to buy a house, figure your price based on your current assets. I too often see people ‘over-buy’ i.e. buy more than they can afford because they estimate that in 6-8 years they are going to come into a large inheritance. The problem is that in most cases you have no way to know when you are going to get this money.
All too often I meet with older baby boomers who have built a nice nest egg but have done nothing to make sure that it gets passed down to the next generation in its entirety. Especially for dual citizens living in Israel, it is essential to be in touch with professionals who can help navigate the differences in the way inheritances are treated in both countries. Hancock continues, “It’s worth noting that there is no one-size-fits-all strategy to plan for a wealth transfer. If you don’t already have one, build a team of advisors who can help you customize a plan based on your family’s assets, goals, and timeframe, among other factors.”
It’s important to add that if you have a will it should be updated and if there is none, go to a lawyer and get one drawn up. Also, it’s crucial that beneficiaries are updated if there is a job change, marriage, have children get divorced or become widowed.
Some planning now can go a long way in creating a smooth transfer of wealth in the future.
manbetx苹果客户端亚伦Katsman是本书退休GPS的文章：如何定位自己的方式安全的金融未来全球投资（麦格劳 - 希尔），并且无论是在美国和以色列的持牌金融专业，并帮助人们谁开投资账户在美国。证券通过组合资源集团有限公司（www.prginc.net）提新万博取款周期供。会员FINRA，SIPC，MSRB，FSI。欲了解更多信息，请致电（02）624-0995访问www.sisoftball.com或电子邮件aaron@lighthousecapital.co.il。