WSJ writes: Anne Tergesen’s wildly popular article “Counting on an Inheritance? Count Again” warned baby boomers against expecting too much from their financially strapped elderly parents. A new U.S. Trust study gives similarly bad news to the children of baby boomers.
Only 55% of boomers (those 47 to 66 years old) consider it important to leave a financial inheritance to their children or other heirs, compared to 76% of those 18 to 46 and 73% of those 67 and older, according to the U.S. Trust Insights on Wealth and Worth survey, which canvassed 642 adults with at least $3 million in investable assets, excluding their primary residence. (Some 32% of the respondents had assets of at least $10 million.) The survey was released on Monday.
The top five reasons cited for not leaving an inheritance to children were…..