Baby boomers possess the greatest amount of disposable income — more than $56 trillion in the U.S. — thanks to long-term investing and working past age 65.
On top of that, the Boston College Center on Wealth and Philanthropy projects that $59 trillion is expected to be passed down to heirs, charities and taxes between 2007 and 2061. Yet most seniors lack an estate plan, will or trust.
With money up for grabs, it’s not surprising that prolonged and nasty family disputes occur. Make sure you leave a peaceful legacy by working with reputable legal representation to prepare a will.