The Baby Boomer generation holds $76 trillion in wealth, according to the Federal Reserve, much of which won’t be passed down to their children until the Boomers pass away. But not everyone waits for the reading of the will. Many among the one percent give money to their children regularly over long periods of time—with both direct cash payments and sophisticated trusts, which can disburse family wealth over multiple generations. Gifting is, in short, an excellent estate planning tool.
Richa Singh, a consultant with the Family Business Consulting Group in Denver, helps ultra-high-net-worth families manage their finances.
