With more women, millennials and Gen Zers set to join the ranks of the newly rich, the face of American wealth is set for its most radical makeover in decades.
An estimated $124 trillion is projected to be passed to family members and charity by 2048, according to a report from Cerulli Associates.
While the largest handovers are still a decade or two away, an estimated $2.5 trillion a year is currently being passed down to the next generations and spouses, according to the report. A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. More than $100 trillion in household wealth is expected to be passed down as part of the Great Wealth Transfer, the largest in U.S. history, according to a new report.
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