How boomer retirement plans may affect their children’s inheritances

The following is from Marshall Eckblad, Well-off Baby Boomers are likely to spend their kids’ inheritance, San Francisco Chron., Dec. 9, 2007, at E1:

The affluent Boomer crowd typically has plans for a fully funded dream retirement that lasts two decades or more. Having bankrolled kids through years of education and early adulthood, these Boomers feel less than obligated to pass along to their children much of their hard-earned wealth.

For those clients who do want to leave a sizable inheritance, financial advisers may need to lay out for them the difficulty of living an active and exciting retirement and also leaving wealth to their children.***

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