Wealthy Americans unclear on inheritance planning
More than a quarter of affluent Americans are unclear about how to spread their wealth as they debate whether to leave their fortune to their kids, charity or in some cases the government, a study by JPMorgan Private Bank has revealed, according to an Associated Press report.
Around 350 clients with $25m (€15.7m) or more were interviewed in the survey. About 30% said their greatest fear was family conflict over how investable assets were split, while nearly 40% were afraid of financial predators.
A mere 9% thought it is appropriate to pass on a hefty inheritance to children under 30, while more than half would leave their riches to two or more generations, the survey showed.
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