Lately, I've been getting a lot of news releases about what's being called the Great Wealth Transfer — upwards of $124 trillion that could change hands between generations over the next 10 to 20 years. And much of that inheritance will likely end up in the hands of women — wives, daughters, siblings, granddaughters — if for no other reason than women tend to outlive men.
But before you count on that cash, a word of caution is in order. "I have been hearing about a generational windfall for the last 30 years, and I haven't seen it materialize," says Alexandra Armstrong, a certified financial planner and author of On Your Own: A Widow's Guide to Emotional and Financial Well-Being. She has worked with clients who counted on inheriting from their parents, only to find that "their parents didn't die anytime soon, and there wasn't that much left anyway."
