February 21, 2018

Wealth Management

A Wealth of Information

Among the top concerns for many: The national economy and threats from abroad.

Dian Vujovich | 10/1/2006

Kid Concerns

Generation Gap
The No. 1 worry
of affl uent Americans continues to be that the next generation will have a more diffi cult time fi nancially -- 83% expressed this concern vs. 81% in 2005.
Most married respondents (83%) plan to leave the bulk of their estates to their spouses. If there is no surviving spouse, their children will inherit nearly three-quarters (74%) of their parents' assets.

Impact of Inheritance
Affluent parents are not particularly concerned about the impact of an inheritance on their children. Less than a third worry that:
The inheritance you leave your children will undermine their self-reliance (29%).
Your children will squander their inheritance (22%).
Family members will fi ght over your assets and possessions (18%).
You or your spouse may remarry and your children will lose their inheritance (18%).

Special Factors
Only 32% would encourage their child to sign a prenuptial agreement. While most affl uent parents plan to treat their children "on a totally equal basis" in their wills, certain factors could affect how much a child inherits, including:
The child's mental health (73%).
The child's ability to manage money wisely (65%).
The child's physical health (64%).
The child's inability to get and keep a good job (52%).
Who parents can rely on (43%).
The child's choice of a spouse (37%).

The following were not important in determining the size of a child's inheritance:
The child's age (26%).
Who parents get along with (21%).
The child's sex (1%).
Affluent parents were evenly divided on whether they had discussed their estate plans with their children.
On average, they believe the youngest age an individual should be entrusted with a signifi cant inheritance is 26.

Tags: Banking & Finance

Digital Access

Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

An overview of the features and articles in this month's issue of Florida Trend.


Florida Business News

Florida Trend Video Pick

SyFy Bartow
SyFy Bartow

SyFy Bartow: Monsters vs. Aliens comic convention.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Florida teens are leading national debate on gun control. Will this have any effect on legislation in the state this year?

  • Yes, I am optimistic some reforms will get done
  • Not this year, but soon
  • Net result? Nothing will happen

See Results

Ballot Box