Nina Dragicevic, The Canadian Press Feb 7, 2024 10:00 PM
A significant intergenerational wealth transfer is expected from baby boomers to millennials and Gen Z. However, many parents are not preparing their adult children for this. Lack of communication about finances can lead to family chaos around inheritances. Concerns include financial literacy, children’s spouses, and ensuring the wealth is used meaningfully across generations. Starting conversations early, seeking financial education, and working with advisors can help mitigate anxiety and ensure responsible stewardship of inherited wealth.
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