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What To Consider When Choosing A Trustee

Kids with grandparents

In what some are calling “The Great Wealth Transfer,” experts predict that boomers will give about $68 trillion to their heirs over the next 20 years. And this intergenerational transfer of wealth is not stopping there. Almost $200 billion was raised through SPACs from 2019 to 2021. While the actual statistics of how much money went directly to millennials from the SPAC and IPO boom is unknown, it's safe to say that it's a remarkable amount of additional wealth transferring to the next generation.

As a result, wealth owners are spending significant time thinking about how they want to transfer their wealth and to whom. Like the generations before them, they seek plans that focus on their family vision, including their legacy, philanthropic goals, and their adult children and other potential heirs. However, this new generation of wealth owners also holds more complex assets, such as alternative assets like cryptocurrencies, that are making wealth transfer discussions and structures more challenging.


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