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$3.9 Trillion Wealth Transfer Underway, Elder Law Attorney, Woodstock, GA

If a new report is accurate, then prepare to hear about the estate tax and income inequality even more in the next decade.

One of the biggest issues for politicians and economists currently is the inequality of wealth and income. It has been pointed out countless times that throughout the world, and especially in the U.S., the incomes and wealth of the richest people are growing exponentially while the income and wealth of everyone else is barely growing at all.

The extent people think this is a problem, if they think it is at all, depends on their political leanings and the economic theories to which they subscribe.

As Market Watch reports in “The largest wealth transfer in history has already begun” a new report would seem to indicate that discussion of the issue is not going to go away anytime soon.

Wealth-X and NFP estimate that by 2026 approximately 14,000 ultra-wealthy people will pass away and leave their fortunes to the next generation. The estimated total value of those transfers is $3.9 trillion.

It is not always possible to predict with great accuracy how people will react to things, but it is almost a near certainty that such a vast transfer of wealth to heirs who did not personally earn that money will keep the debate over the estate tax going.

People who are in favor of the estate tax believe it is unfair and harmful to society when too much wealth is passed between generations of the same family. Those who oppose the estate tax believe such wealth rightfully belongs to the family that earned it instead of spread among those who did not.

Reference: Market Watch (Sept. 18, 2016) “The largest wealth transfer in history has already begun

 

Hear From Our Clients
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“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce