A Deluge of Wealth | Rich Floridians - Florida Trend

A Deluge of Wealth | Rich Floridians - Florida Trend: Rich Floridians
Philanthropy: A Deluge of Wealth
Wealth transfer in the next 10 years could total $322 billion.

A Time for Giving - WSJ.com

A Time for Giving - WSJ.com: "t may be tough expanding your wealth in an economy that is teetering, but giving it away to heirs is getting a whole lot easier, thanks to rock-bottom interest rates.

Some estate-planning professionals are urging clients to take advantage of the situation by setting up grantor-retained annuity trusts, vehicles designed to minimize or eliminate gift taxes on wealth transferred out of an investor's estate during his or her lifetime."

The NonProfit Times - The Leading Business Publication For Nonprofit Management

The NonProfit Times - The Leading Business Publication For Nonprofit Management: "John Havens, associate director of the Center on Wealth and Philanthropy at Boston College, is still optimistic about an economic rebound. The $41-trillion transfer of wealth predicted by the center some 10 years ago assumed no deep or prolonged recession or depression. “We have to see how this market downturn is going to affect wealth in the longer run,” Havens said. After the dot-com bubble burst earlier this year decade, wealth dropped about 15 percent"

Run-up to huge wealth transfer highlights gap - Boston Business Journal:

Run-up to huge wealth transfer highlights gap - Boston Business Journal:: "But like many donors and their foundations, neither Abele nor Argosy accepts unsolicited requests for gifts, putting them right at the center of a philanthropic paradox: Many small nonprofits that stand to gain the most by tapping into the gusher of money expected to change hands in the coming decades are the least likely to cash in."

The Enquirer - Boomer wealth may leave area

The Enquirer - Boomer wealth may leave area: "Local baby boomers will soon leave billions to their kids, and a local foundation is worried those funds will follow a generation of young people out of Greater Cincinnati. As much as $169 billion is expected to shift from parents and grandparents in Hamilton, Adams, Brown, Butler, Clermont and Warren counties to younger relatives by 2055, according to a recent study on wealth transfer by the Rural Policy Research Institute's Center for Rural Entrepreneurship. That finding follows a national trend in which about $41 trillion is expected to change hands by 2052. That may be good news for a slacker kid waiting to get his hands on mommy's fortune, but not necessarily for this region, which is losing more 25-to-34-year-olds - a group that stands to inherit much of that cash - than it gains."

County nonprofits can benefit from wealth transfer - Ann Arbor Business Review - MLive.com

County nonprofits can benefit from wealth transfer - Ann Arbor Business Review - MLive.com: "A new study about the county's wealth and its potential impact for nonprofits as the Baby Boomer generation ages gives hope to the Ann Arbor Area Community Foundation for increased endowments. Washtenaw County residents will pass $5.25 billion onto their heirs from 2005 to 2015, according to the study commissioned by community foundations in Michigan, Ohio and Illinois. That number of local dollars changing hands grows to $41 billion through 2055, showing the scope of the potential for nonprofits to capture some of the transition."

Turning wealth into good works | csmonitor.com

Turning wealth into good works | csmonitor.com: "Suppose you've become financially independent through business success, investments, or an inheritance, and can have whatever you might want. What would you do with your wealth?

It's a question millions of Americans are confronting amid a dramatic rise in affluence. The United States now has more than 8 million millionaires, and studies show that an intergenerational transfer of private wealth is under way that will amount, at the least, to $45 trillion by 2052 (and perhaps three times that).

'Never have so many people had such wealth,' says Paul Schervish, director of the Center on Wealth and Philanthropy at Boston College. 'How they use it is a spiritual question ... the key question of the 21st century.'"