According to a recent U.S. Trust survey, the majority of baby boomers believe it is more important to enjoy their golden years than to leave money behind for their children. The survey revealed that one-fifth of the baby boomers surveyed had little confidence in their children’s financial responsibility and believed that their children would squander away an inheritance. One-quarter of those surveyed believed that an inheritance would make their children lazy.
See Brad Tuttle, Hey Kids of Baby Boomers, Forget About Your Inheritance, Times Magazine, Sep. 6, 2011.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.
