Inheritance Thoughts

A gradual transfer of wealth is occurring among Americans: Baby boomers are starting to receive an estimated $8.4 trillion in inheritances from older generations, according to a paper published by The Center For Retirement Research at Boston College.
Text by Brad W. McMorris | June 16, 2018 | Lifestyle

Roughly 2/3 of boomer households will receive an inheritance, and the average value of those inheritances is just under $300,000. These bequests will bring heirs the opportunity to reach financial goals sooner — but may also pose significant challenges. If you expect to receive a sizable inheritance, it’s smart to consider how you’ll integrate it into your overall financial plan. By employing a careful investment plan, an investor can help protect and perhaps even increase a financial gift. As you develop an investment strategy for your new wealth, consider the following factors: asset allocation, alternative assets to diversify your investment portfolio and tax-advantaged accounts. By understanding now the factors that are likely to come into play later, you’ll be prepared to use a fortunate gift as it was intended rather than having it increase the stress of a loved one’s passing.
Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. Diversification does not guarantee profit or protect against loss in declining markets. Wells Fargo Advisors is not a legal or tax advisor.

Brad W. McMorris is VP of Investments for Arch & McMorris Wealth Management Group of Wells Fargo Advisors. For a consultation, call 305.523.2922 or email [email protected].

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