Survey Says: Wealthy Have Concerns About Passing Their Wealth

Barclays Wealth conducted a survey of over 2,000 people, each of whom had $1.5 million in investable assets in 20 countries. The survey also encompassed 200 more people with more than $15 million in assets.

34% of those individuals either do not trust their children to inherit their money, or they are ambivalent about it. 96% of respondents will still leave a great amount of money to their children though. There are several ways to make an inheritance plan to ensure positive management of this inheritance. Incentive trusts and discretionary trusts are two commonly used methods for responsible wealth management.

40% of those surveyed said that they had experienced family conflicts over money and the survey also found that respondents who had inherited their wealth had more financial conflicts than those who earned their money.

See Kenneth Corbin, Wealthy Voice Reservations About Inheritance Succession, Financial Planning. Nov. 16, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.