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The Wealth Transfer Crash: Why Traditional Estate Planning Isn't Working
Released on Wednesday, March 17, 2021•ESTATE PLANNING
Our nation is on the verge of the largest transfer of wealth from one generation to the next in history. Sadly, only about 50% of the wealth makes it to generation two, and only about 10% makes it to generation three. The wealth either gets hijacked and does not arrive at the intended destination, or it crashes and burns instead of landing safely. Troubles such as divorce, lawsuits, dependency, entitlement, addiction, and dysfunctional relationships are symptoms but not the cause. A crucial part of the wealth transfer mechanism is broken. There is a solution. Tune I to find out what the problem is and how to fix it.
Richard E. Durfee. Jr., is the senior attorney at Durfee Law Group, PLLC, which evolved through natural selection from various partnerships. Located in Mesa, Arizona, the firm's services range from wills, trusts, and probate, to complex multi-jurisdictional planning for the ultra-wealthy. Mr. Durfee's main focus is on multi-generational dynasty planning, business and asset protection, strategic charitable planning, and associated tax planning.
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