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Getting Younger Heirs to Invest, Elder Law Attorney, Woodstock, GA


As is always the case, people in their 20s today have different priorities than their parents and grandparents. Younger priorities often do not include investing in the stock market. This has caused some consternation on Wall Street because today’s young adults stand to inherit a lot of money from their parents.

Much has been written about the millennial generation, those people born between 1980 and 2000. Their work ethic, tastes and even general politeness have been questioned by older adults.

One thing that some believe is different about millennials is that they do not just get financial advice from professionals. They also get advice from friends, social media and online gurus.

This is seen as a problem for Wall Street firms who are in the business of selling financial advice and getting people to use their services to invest. Since estimates speculate that millennials will inherit $30 Trillion from their parents and grandparents, it is paramount for Wall Street to attract the attention of these young heirs.

As Bloomberg reports in an article titled “Wall Street Has Its Eyes on Millennials $30 Trillion Inheritance,” Wall Street has taken an unusual strategy to attract the attention of millennials, using animation and cartoon like graphics.

Click over to read the original article and see some examples of the cartoon graphics Wall Street firms are using.

One takeaway: if you are planning on leaving a millennial a large inheritance, it might be a good idea to have an estate plan that takes the choice of investing away from them and giving it to a professional.

A trust, for example, could be used instead of leaving the inheritance outright with a professional trustee to help protect the inheritance from and for your millennial loved ones.

If Wall Street is concerned that millennials will not invest their inheritance prudently, perhaps it would be wise for you to be concerned as well.

Reference: Bloomberg (March 3, 2015) “Wall Street Has Its Eyes on Millennials $30 Trillion Inheritance

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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.

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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!

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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.

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Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

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I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

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