This document discusses the importance of estate planning for generational wealth transfer. An estimated $30 trillion is expected to be inherited by Generation X and Millennials over the next 30 years, yet 70% of family money disappears by the second generation and 90% is gone by the third generation without proper planning. While 55% of clients have estate plans, only 42% have help ensuring their plans are up to date and transferring wealth effectively across generations. The document emphasizes that anyone with assets requires an estate plan to protect their family's future interests.

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SOURCES:
1
Investment News: Generational Planning; July 13, 2015.
2
The Wall Street Journal: Lost Inheritance, by Missy Sullivan; March 8, 2013.
3
Pershing/BNY Mellon: 30 IN 30 report; April 2014.
– Estate Planning —
GENERATION X
& MILLENNIALS
$30,000,000,000
00
100
THIRTY TRILLIONAND
2016-2046
Your Parents
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$30 TRILLION:estimated amount
of wealth that Generation X and Millennials are
expected to inherit over the next 30 years.1
70%of family money
disappears by the end of
the second generation1
90%is gone by the end
of the third generation1
70%
90%
Famous
Fortunes
Gone Bust
2
AMONG U.S. CLIENTS WORKING WITH
FINANCIAL ADVISORS, ONLY3
WHAT FAMILIES WANT HELP WITH3
WHO NEEDS AN
ESTATE PLAN?
Anyone with
stuff...
HUNTINGTON
HARTFORD II
Blowing through hundreds of
millions, the A&P grocery heir
died at 97. Among his extravagant
spending: a self-named Manhattan
art museum, a 145-acre California
artist colony, and a Bahamian
resort development with an
imported medieval cloister and
gold-plated bathroom fixtures
estimated at $20 to $30 million.
“COMMODORE”
CORNELIUSVANDERBILT
Amassed more than $100 billion
(in today’s dollars). His early heirs
built baronial estates, including The
Biltmore, a 250-room French-style
chateau in North Carolina. But by
1973, according to one biographer,
a reunion of 120 Vanderbilt
descendants included not a
single millionaire.
BARBABRA
WOOLWORTH HUTTON
Nicknamed the“poor little rich girl,”
the Woolworth’s five-and-dime
heiress blew through half a billion
(in today’s dollars), splurging on
art, jewelry (including historic
pieces once belonging to Marie
Antoinette) and seven husbands.
She died nearly broke, with a
reported net worth of just $3,500.
55% have estate plans
in place
48% want to know if their wills
and trusts are up to date
27% acknowledge an estate
plan is needed
want help understanding
the issues associated
with multigenerational
wealth transfer
42%
36% have trust services
in place
41% want help creating plans
to transfer wealth to
their children
ESTATE
PLANNING
Simplified
Many often think that estate planning
only benefits the very wealthy, but this is
a common misconception. It’s something
everyone needs to engage in regardless
of age, estate size or marital status. If
you have a bank account, investments, a
car, home or other property—you have
an estate—and must plan accordingly
to protect your family and their future
interests. Check out these stats regarding
the importance of estate planning.
SF#9756506-2016