It's being called the great wealth transfer. >> You are living in the greatest transfer of wealth in human history. >> Not just little rich, rich, mega money rich.Up to $124 trillion expected to shift from the hands of baby boomers and older generations down to their younger heirs. But it's not a simple handoff like some might think. >> The cold reality, wealth doesn't transfer.Wealth gets consumed. for anyone expecting a big windfall. >> Unfortunately, I don't feel it's going to be sort of a widespread phe ...

Estate Planning - Trusts are important for estate planning, especially for high-net-worth individuals [1] - Family offices utilize trusts to mitigate estate taxes [1] - Estate taxes are not a primary concern for sophisticated investors due to trust utilization [1]

Estate Planning Basics - Estate planning is an emotional process requiring organization and key documents [1] - Core estate planning documents include power of attorney, health care proxy, living will, and last will and testament [1] - Strategic gifting can impact estate taxes [1] - Estate plans should be revisited periodically [1] Key Documents & Considerations - Power of attorney allows someone to act on your behalf [1] - A health care proxy designates someone to make health care decisions [1] - A living will outlines your wishes for medical treatment [1] - A last will and testament outlines how your assets will be distributed, probate may be required [1] - Wills and trusts serve different purposes in estate planning [1] Resources - Fidelity provides resources for creating an estate plan and avoiding common pitfalls [1] - Money Unscripted releases new episodes bi-weekly on Tuesdays [1]