Forbes

Dear Millennials,

You stand to inherit an estimated $30 trillion from you parents, the Baby Boomer generation.

That is an extraordinary amount of wealth. The reality is, however, that most of you will never know what you stand to inherit until you actually inherit it.

This is a problem for many reasons. If your parents are not willing to start the conversation about wealth and legacy transfer, then you need to broach the topic yourself. Here’s why:

 

FINRA is a non-profit organization which, through Congressional authorization, oversees the actions of broker-dealers and 634,000 member brokers who are involved in the securities markets.  

When one of its members violates its rules or securities laws, they sanction the firm or individual by imposing fines, disciplinary actions and, if egregious enough, refer cases to the Securities and Exchange Commission or law enforcement.  

Conservatives have long held up the estate tax as the scourge of the American entrepreneurial spirit, so the question: should small businesses care?

Entrepreneurship, and life in general for that matter, is a never-ending cycle of creation and destruction. Ideas, beliefs, and behaviors ebb and flow evolving to influence our lives in different and often unexpected ways.

Central to this truth is the concept of reinvention. I think that many times, entrepreneurs feel like the act of personal reinvention is tantamount to admitting failure. They’re not wrong.

Everyone should have an estate plan no matter what his or her level of worth.

An estate plan determines how assets are distributed upon death. Not having an estate plan is in fact having one as the determination of who gets what is being made by the government and might not be in accord with the wishes of person.

Death will trigger a transfer of assets whether professionally planned for or not.