Study finds baby boomers will not leave money to children in wills

Posted on April 22nd, 2011 No Comments

A recent study conducted by the U.S. Trust found that children of parents who were born in the baby boomer generation will not be likely to receive an inheritance in the event of their parents’ death.

The study surveyed 457 baby boomers across the U.S. who have at least $3 million in assets. It was found that 51% said that they would not leave their children any money in their will and would, instead, use the money for travel and other personal interests. In addition to this, 52% of parents said that their children do not know how much they are worth.

When asked why they did not want to leave their money to their children, many parents stated that their children would not be able to handle inheriting a substantial amount of money. Some parents also expressed concern for their children becoming lazy if given money.

If you would like your child to receive an inheritance in your will, please contact the Houston heirship lawyers of Garg & Associates, P.C., at 800-242-2151.

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