Under current law the federal estate tax, gift tax, and generation-skipping transfer tax exemptions have become unified and are indexed for inflation on an annual basis. 206 more words
Tags » Family Wealth
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. 191 more words
According to this Time Inc. Network article, there’s only a 10% chance that wealth will remain with a family for three or more generations. Assuming that this observation, as well as the following statements, accurately reflect reality: are there vehicles that a person might establish in order to increase the chances that some of her/his wealth will be available to support causes that are likely to require multi-generational efforts, beyond three generations, in order to bear fruit? 118 more words
- Sixty-five percent of respondents report that their families are either “doing okay” or “living comfortably” financially, compared to 62 percent in 2013.
- Forty-seven percent of respondents say they either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money. 89 more words