Study: Wealthy Americans Have Trust Issues With Heirs

11:15 pm Asset Protection, California Trusts, Estate Planning

Money1 Study: Wealthy Americans Have Trust Issues With HeirsA new study from Barclays Wealth says that 38 percent of wealthy Americans do not trust their heirs to protect their inheritance, although a vast majority – 96 percent – plan to leave their wealth to their children or stepchildren.

The study surveyed 2,000 high net worth individuals from 20 countries and found that 94 percent of those surveyed in the U.S. have wills.  Of this group, only 19 percent have ever changed a will, 50 percent have changed a will once or twice, and 35 percent have changed a will three or more times.

Conflicts around inheritances have also played a role in 36 percent of those wealthy Americans surveyed, with multiple marriages and business succession playing a large part in those conflicts.

Perceptions about the importance of inheritance planning increase with net worth, according to the survey, which found that 68 percent of wealthy Americans feel it is important to plan with the help of professional guidance.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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