Wealth Transfer: Business-building Strategies as More Families Engage With Inheritances and Trusts
Order Report - Wealth Transfer: Business-building Strategies as More Families Engage With Inheritances and Trusts
Overview
Today, nearly two thirds of U.S. households are involved in intergenerational wealth transfer, with an estimated $17.5T changing hands over the next 20 years. Additionally, one in four U.S. households have funded trusts. Obviously there are implications for all financial service firms. This report looks at wealth transfer, family conversations about wealth transfer, who's planning to bequeath and inherit, and the use of trusts. One big takeaway - these topics are no longer just for the wealthy.
Key Findings
- Today, nearly two thirds of U.S. households are involved in intergenerational wealth transfer or expect to be. The biggest increase in involvement is expecting to leave an inheritance.
- One in 4 households has funded accounts registered to trusts.
- Receiving an inheritance, whether nice to have or life changing, impacts recipient wants, needs, behaviors and attitudes.
- Wealth transfer in the next 20 years is estimated to be $17.5T. 49.4M households expect to bequest assets, up from 34.4M in 2015. Most have no experience and want to talk about it.
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Sample Report Pages
Table of Contents
Methodology
Key Findings & Implications
Favorite Statistics
Related Research
Key Findings
1: Today, nearly two thirds of U.S. households are involved in intergenerational wealth transfer or expect to be. The biggest increase in involvement is expecting to leave an inheritance.
Exhibit 1.1 — Sizing of Household Involvement in Inheritance: Net Any Involvement and by Type of Involvement, National, by Year
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Exhibit 1.2 — Net Any Involvement in Inheritances: by Investable Assets, by Year
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Exhibit 1.3 — Involvement in Inheritance: Net any Involvement and by Type of Involvement: by Investable Assets, 2022
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Exhibit 1.4 — Attitude “I expect to spend most of my money myself, rather than passing it on to heirs or charities": by Year
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Exhibit 1.5 — Crosstab of Attitude “I expect to spend most of my money myself, rather than passing it on to heirs or charities” by Expectations on Leaving Inheritance, 2022
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Exhibit 1.6 — High Agreement with Attitude “I expect to spend most of my money myself, rather than passing it on to heirs or charities": by Investable Assets, by Year
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Exhibit 1.7 — Attitude “I expect to spend most of my money myself, rather than passing it on to heirs or charities": by Investable Assets, 2022
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Exhibit 1.8 — Concern “Providing for members of your extended family, such as siblings, parents, nieces/nephews, grandchildren, or grandparents, who are not as well off as you": by Investable Assets, 2022
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Exhibit 1.9 — Somewhat/High Concern for “Providing for members of your extended family, such as siblings, parents, nieces/nephews, grandchildren, or grandparents, who are not as well off as you": by Race/Ethnicity and by Investable Assets, 2022
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Exhibit 1.10 — Inheritances Discussions: Have Received, Expect to Receive & Expect to Leave, 2022
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2: One in 4 households has funded accounts registered to trusts.
Exhibit 2.1 — Beneficiary of Funded Trust: Incidence, by Year and by Investable Assets
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Exhibit 2.2 — Sizing of Households who Are Beneficiaries of Funded Trusts, by Current Household Investable Assets: 2022
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Exhibit 2.3 — Sizing of Households who Are Beneficiaries of Funded Trusts, by Whether Have Received Inheritance: 2022
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Exhibit 2.4 — Sizing of Households who Are Beneficiaries of Funded Trusts, by Whether Have Received Inheritance and by Current Investable Assets: 2022
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Exhibit 2.5 — Beneficiary of Funded Trust Among Beneficiaries: Value of Trust, by Year
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Exhibit 2.6 — Beneficiary of Funded Trust: Value of Trust Among Beneficiaries, by Investable Assets, 2022
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Exhibit 2.7 — Beneficiary of Funded Trust: Value of Trust, National, by Investable Assets, 2022
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Exhibit 2.8 — Incidence of Funded Trust: by Age and Investable Asset Combinations, 2022
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Exhibit 2.9 — Competitive Analysis: Incidence of Funded Trusts Among Customers, by Store, 2022
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3: Receiving an inheritance, whether nice to have or life changing, impacts recipient wants, needs, behaviors and attitudes.
Exhibit 3.1 — Inheritance Received: Incidence, by Investable Assets, by Year
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Exhibit 3.2 — Approximate Age Inheritance Was Received: 2022
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Exhibit 3.3 — Inheritance Amount Received: by Year
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Exhibit 3.4 — Inheritance Amount Already Received: by Current Investable Assets, 2022
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Exhibit 3.5 — Inheritance Received as Percent of Current Investable Assets: by Current Investable Assets, 2022
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Exhibit 3.6 — Sizing of Households by Inheritance Amount Received and Current Investable Assets, 2022
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Exhibit 3.7 — Saving & Investing Goals, All Goals: by Inheritance Amount Received, 2022
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Exhibit 3.8 — Crosstab of Inheritance Amount Already Received by Inheritance Discussion, 2022
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Exhibit 3.9 — Target Profile: No Inheritance, Received, Received <$500K and Received $500K+
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Exhibit 3.10 — Target Profile: No Inheritance, Received, Received <$500K and Received $500K+, cont.
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Exhibit 3.11 — Target Profile: No Inheritance, Received, Received <$500K and Received $500K+, cont.
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Exhibit 3.12 — Target Profile: No Inheritance, Received, Received <$500K and Received $500K+, cont.
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Exhibit 3.13 — Target Profile: No Inheritance, Received, Received <$500K and Received $500K+, cont.
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4: Wealth transfer in the next 20 years is estimated to be $17.5T. 49.4M households expect to bequest assets, up from 34.4M in 2015. Most have no experience and want to talk about it.
Exhibit 4.1 — Inheritance: Expect to Leave Behind, Incidence, by Investable Assets, by Year
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Exhibit 4.2 — Sizing of Household Involvement in Inheritance: Combinations of Have Received, Expect to Receive & Expect to Leave, 2022
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Exhibit 4.3 — Sizing of Household Involvement in Inheritance: by Prior Involvement, 2022
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Exhibit 4.4 — Inheritance Amount Expect to Leave: by Investable Assets, 2022
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Exhibit 4.5 — Inheritance Amount Expect to Leave: by Year
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Exhibit 4.6 — Sizing: Intend to Leave Inheritance: by Age and Investable Asset Combinations, 2022
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Exhibit 4.7 — Sizing: Upcoming Wealth Transfer, Age 65+, by Current Investable Assets, 2022
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Exhibit 4.8 — Crosstab of Inheritance Amount Expect to Leave Behind Someday by Discussion With Heirs About the Inheritance Expect to Leave Behind, 2022
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Exhibit 4.9 — Inheritance Discussions: Degree of Discussion about Inheritances, Expect to Leave, by Investable Assets, 2022
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Exhibit 4.10 — Competitive Analysis: Customers Expecting to Leave Inheritance, by Store, 2022
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Exhibit 4.11 — Competitive Analysis: Customer Inheritance Discussions, Expect to Leave Inheritance, by Store, 2022
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Data Dictionary
Appendix
Glossary
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