Research highlights Americans’ silence surrounding inheritance

JACKSON, Tenn. — More than a third of Americans don’t plan on discussing the transfer of wealth with their families, according to new research from Edward Jones.

Despite this, nearly half of Americans plan to leave an inheritance.

This is all part of the ‘great wealth transfer’, when baby boomers and the silent generation will pass down an estimated 84.4 trillion dollars in assets through 2045.

Talking about inheritance can be uncomfortable, and it’s nearly impossible to separate emotions from financial decisions, but experts say it’s critical for family harmony.

“It’s really helpful to have a financial professional who could act as a coach, as a mediator, but also just as a financial professional to partner with you,” said Lena Haas, Wealth Management Advice and Solutions Lead at Edward Jones.

It’s also important to identify who to bring into the conversation, including the benefactor and recipients.

Then you should pick a neutral place to have an honest conversation.

It’s important to mention the traditional parts of inheritance like assets and real estates, but don’t forget the broader topics like legacy, family values, and charitable giving.

For more U.S. news, click here.