Key facts
- Affluent baby boomers are increasingly giving smaller financial gifts to their children and grandchildren.
- This approach contrasts with the traditional model of leaving a large inheritance.
- Four readers shared their personal strategies for wealth transfer with The Wall Street Journal.
Many affluent baby boomers are changing their approach to wealth transfer, opting to provide smaller financial gifts to their children and grandchildren during their lifetimes rather than bequeathing a large inheritance upon their death. This trend reflects a desire to see heirs benefit from the wealth sooner and potentially assist them with current financial needs. The Wall Street Journal highlighted this shift by featuring accounts from four individuals who detailed their specific methods for passing down wealth in the present day. These personal stories offer insight into the evolving dynamics of intergenerational wealth management among affluent families.