A 2007 survey by Putnam Investments found that most people who inherit money or property had no previous indication they would receive anything from a relative or friend’s estate, and less than 20 percent knew what to do with it when they did receive it. The World War II generation, parents of the baby boomers, saw saving as a way of life, and many accumulated assets that lasted beyond their lifetime. Estate planning has become a bigger issue as that generation attempts to transfer that accumulated wealth to their heirs as tax efficiently as possible with the goal of making life easier for their children and grandchildren. With more people bequeathing wealth, more people are receiving it – often without the benefit of the education and planning that helped build and distribute it. They fall squarely in what Ann Perry, author of The Wise Inheritor: A Guide to Managing, Investing and Enjoying Your Inheritance, calls the triple taboo of money, death and close family relationships. Parents, especially those with more than one child, may feel uncomfortable discussing who gets what for fear of causing rifts. Children feel guilty asking questions about what they will inherit for fear of looking greedy. That leaves heirs ill-prepared to receive their inheritance. Some respond with a spending spree, while others become paralyzed by fear they will make a mistake and disappoint or dishonor the parent who worked so hard to leave them a cushion. Even if the heir manages to find a middle ground, an unexpected inheritance can push him/her into a higher tax bracket or trigger the alternative minimum tax. Communication may be key, but that doesn’t make it easier for parents and children to talk about how wealth will be transferred at the parent’s death. An intergenerational estate plan that looks at the parent’s need to mitigate taxes and distribute wealth and at the impact that wealth will have on the recipient can help families work through the taboo issues. Whether you are the parent or the child, we can help initiate those conversations that will help ensure that both generations are ready for the inevitable. Call your personal financial advisor, Jordan, at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule an appointment to discuss your situation. About Jordan Dechtman Wealth Management. Jordan Dechtman Wealth Management is an independent Colorado financial services firm, serving clients since 1984. Jordan Dechtman Wealth Management helps you plan, predict, protect, your future one day at a time. To learn more about the Jordan Dechtman Wealth Management difference, please contact Jordan Dechtman Wealth Management at 303.741.9772 or www.JordanDechtman.com . Member: FINRA-SIPC Phone: 303.741.9772 6025 S Quebec Street, Suite 170 Centennial, CO 80111 PR Contact: Jordan Dechtman Jordan@JordanDechtman.com www.JordanDechtman.com