The Growing Number of Millionaire Households Ensures an Increased Need for Estate Planning

According to Maya Roney’s The Global Millionaire Boom, BusinessWeek online, finance.yahoo.com, Oct. 18, 2007, the number of millionaire households in the U.S. is steadily increasing. Roney explains:

The U.S. had, by far, the highest number of millionaire households, with nearly 4.6 million, and the highest number of $100 million-plus households, with 2,300. The number of millionaire households increased by a steady 10%, while $100-million-plus households grew by 7% * * *.

Paul B. Brown’s Millionaires by the Millions, NYTimes.com, Oct. 20, 2007, also shows that Americans are doing well financially. Here is an excerpt from his article:

[T]here are about five million households “with $1 million to $10 million to invest; 200,000 households with $10 million to $25 million to invest” and another 40,000 designated “ultra-high net worth,” who have more than $25 million in investable assets.

This steady increase in the number of wealthy households in the United States clearly demonstrates a growing need for sophisticated estate planning.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing these articles to my attention.