Hard Conversation Around InheritanceOct 17, 2025A friend recently pointed me to the thorough research done by The Milken Institute (https://milkeninstitute.org/content-hub/power-ideas-essays/we-arent-talking-enough-about-one-aspect-great-wealth-transfer) about the importance of having The Talk before The Transfer.“...our research has found that many are simply not prepared for this shifting of wealth and its effects. More than a third of Americans (35 percent) say they don’t plan on discussing the transfer of wealth with their families, despite the fact that nearly half of all Americans (48 percent) plan to leave an inheritance.Why is that? Perhaps it's because these conversations aren’t always easy to have. There's often anxiety in planning for when we or a loved one are no longer here, and talking about it makes it real. Not to mention, the complexities of our own lived experiences can make it challenging to set emotions aside when making the financial decisions necessary to plan for inheritances.”Another data point I’ve seen is that ~77% of all Boomers who own their home will leave at least $150K+ to the next generation. The Great Wealth Transfer will literally impact 3/4s of all American families. Do we really want to waste money on lawyers and probate courts? All because we are unable to talk to our parents or grandparents?“Preparing wisely means better decisions can be made around a wealth transfer—and when more of us are handling inheritances responsibly and effectively, the ripple effect is that more people can live well and then build on the legacies that have been passed on to them.”“Some people will follow a traditional plan, but others will want to experience the joy of giving in real time, when they have the benefit of seeing its impact—like paying for shared family experiences, contributing to educational costs, or purchasing homes.” We can help ourselves. We can help our families. We can move our lives, forward…
A friend recently pointed me to the thorough research done by The Milken Institute (https://milkeninstitute.org/content-hub/power-ideas-essays/we-arent-talking-enough-about-one-aspect-great-wealth-transfer) about the importance of having The Talk before The Transfer.“...our research has found that many are simply not prepared for this shifting of wealth and its effects. More than a third of Americans (35 percent) say they don’t plan on discussing the transfer of wealth with their families, despite the fact that nearly half of all Americans (48 percent) plan to leave an inheritance.Why is that? Perhaps it's because these conversations aren’t always easy to have. There's often anxiety in planning for when we or a loved one are no longer here, and talking about it makes it real. Not to mention, the complexities of our own lived experiences can make it challenging to set emotions aside when making the financial decisions necessary to plan for inheritances.”Another data point I’ve seen is that ~77% of all Boomers who own their home will leave at least $150K+ to the next generation. The Great Wealth Transfer will literally impact 3/4s of all American families. Do we really want to waste money on lawyers and probate courts? All because we are unable to talk to our parents or grandparents?“Preparing wisely means better decisions can be made around a wealth transfer—and when more of us are handling inheritances responsibly and effectively, the ripple effect is that more people can live well and then build on the legacies that have been passed on to them.”“Some people will follow a traditional plan, but others will want to experience the joy of giving in real time, when they have the benefit of seeing its impact—like paying for shared family experiences, contributing to educational costs, or purchasing homes.” We can help ourselves. We can help our families. We can move our lives, forward…
A friend recently pointed me to the thorough research done by The Milken Institute (https://milkeninstitute.org/content-hub/power-ideas-essays/we-arent-talking-enough-about-one-aspect-great-wealth-transfer) about the importance of having The Talk before The Transfer.
“...our research has found that many are simply not prepared for this shifting of wealth and its effects. More than a third of Americans (35 percent) say they don’t plan on discussing the transfer of wealth with their families, despite the fact that nearly half of all Americans (48 percent) plan to leave an inheritance.
Why is that? Perhaps it's because these conversations aren’t always easy to have. There's often anxiety in planning for when we or a loved one are no longer here, and talking about it makes it real. Not to mention, the complexities of our own lived experiences can make it challenging to set emotions aside when making the financial decisions necessary to plan for inheritances.”
Another data point I’ve seen is that ~77% of all Boomers who own their home will leave at least $150K+ to the next generation. The Great Wealth Transfer will literally impact 3/4s of all American families. Do we really want to waste money on lawyers and probate courts? All because we are unable to talk to our parents or grandparents?
“Preparing wisely means better decisions can be made around a wealth transfer—and when more of us are handling inheritances responsibly and effectively, the ripple effect is that more people can live well and then build on the legacies that have been passed on to them.”
“Some people will follow a traditional plan, but others will want to experience the joy of giving in real time, when they have the benefit of seeing its impact—like paying for shared family experiences, contributing to educational costs, or purchasing homes.”
We can help ourselves. We can help our families. We can move our lives, forward…