Last year marked the beginning of a historic economic event and what economists are calling “The Great Wealth Transfer”. Over the next several decades, an estimated $30 trillion will be passed to Millennials — from their aging parents and grandparents throughout the U.S., Canada and the UK.
Estate planning is an often overlooked element of financial wellness. Over half of Americans – 56% in fact – do not have an up-to-date estate plan. As people are setting New Year’s Resolutions to get fit in 2018, remember to include your financial health in that plan as well.
With the holiday season in full swing and tax time on the horizon, this is a great time to think about updating your estate plan. Estate planning this holiday season can serve as a true gift to your loved ones that will truly have lasting impact for years to come.