SunTrust Private Wealth and Forbes Insights conducted surveys of high-net-worth individuals and those who stand to benefit from a significant inheritance to learn their views on managing and transferring wealth.
Roughly $30 trillion in assets will change hands in the next three decades, and baby boomer parents aren’t sure their children are prepared.
Successful wealth transfer is becoming increasingly important now that one of history’s most significant asset handovers is underway.
High-net-worth individuals (HNWIs) and their heirs can do a better job of talking about the transfer and management of wealth, according to a SunTrust/Forbes Insights survey.
Transferring wealth from one generation to another can be complicated.
With interest rates still near historic lows, wealthy parents may want to consider using intrafamily loans to help adult children fund an array of needs.
An unexpected healthcare event requiring long-term care can quickly wipe out a sizable portion of assets. Instead of self-funding these expenses, you may want to consider purchasing insurance.
Estate planning can be challenging when most of your family’s wealth is tied up in illiquid assets. But there are solutions that can help ensure inheritances are both equal AND fair.
Millennials tend to be exceedingly cause-driven and charitable. Find out how you can help foster those qualities and start your millennials on the road to financial confidence.
Comparing healthcare costs can be valuable, since it doesn’t make sense to pay more for the same quality of care. But for the best outcomes, it’s important to make an informed decision about your care that takes into consideration quality and a patient-focused approach to care as well as cost.
Planning and communicating are critical to the success of wealth transfer. Five simple steps can help guide you as you establish your plan and prepare your heirs for the eventual transfer of your estate."
Rather than as a way to bypass estate taxes, more and more parents are turning to trusts as an ideal way to ensure that the financial legacy they leave their adult children is protected.
A special needs trust is one planning option that can help with the financial challenges of caring for a loved one with a disability.
There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital.
Smart planning is essential for LGBT seniors to ensure they’re happy, healthy and financially prepared to enjoy the years to come.
Passing on your wealth is a celebration of your legacy and a means of putting your children and other heirs on sure footing. Without adequate planning, however, the wealth transfer process can be stressful.
Many people turn to a family member to serve as the executor of their estate. But given the complexity of the challenge, the required time commitment and the emotional toll, is that the best choice?
It's never too early to review your financial plan and your long-term care coverage. Taking action now can have a lasting impact on your retirement years.
SVP and Head of Financial Planning for SunTrust, Joe Sicchitano, explains the importance of financial education for children and grandchildren and shares tips for getting started.
Bill Frazier, Senior Vice President with SunTrust Bank, discusses steps parents can take to implement a Special Needs Trust, helping them deal with an emotional life circumstance.
You don’t have to be Bill Gates to enjoy the benefits of a charitable trust. These vehicles can serve as a beneficial component of any family’s estate plan.
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