Women Stand To Inherit Trillions from Spouses During the Great Wealth Transfer | Global News Avenue

Women, especially widows, prepare inherit Trillions of dollars over the next few decades.

Widowed women of the baby boomer generation, or those generally born between 1946 and 1965, are expected to inherit about $40 trillion between 2024 and 2048, according to Cerulli Associates.

That’s about a third of the $124 trillion that will be transferred over the next few decades, a phenomenon known as “diversion.” great wealth transfer.

More than half of the wealth inherited by widowed women, or $21 trillion, will be donated to high net worth individuals Spouse, or person with $5 million or more in investable assets.

Women tend to live longer than men, and they need to maintain the money whether they have an inheritance or not.

Women view financial advice differently

Many women may undergo major windfall future, financial planner May need to change their approach as female clients may have different preferences than male clients.

Cerulli’s research shows that women are more likely than men to say they value relationships when choosing an advisor. For example, most high-net-worth individual practices report that women are at least involved in clients’ family financial planning, making it easier for advisors to engage with them after they become widows and increase asset retention when they inherit an estate. wealth.

“When a husband dies before his wife, it’s understandable that finances are the last thing on the surviving spouse’s mind,” said Chayce Horton, senior analyst at Cerulli. “That’s why Cerulli recommends engaging with clients as early in their lifecycle as possible All members of the family build relationships.”

Women may also have different ideas about how to use their money. Cerulli finds high-net-worth women show greater preference charity and SDGs compared to men.

Other data also shows this trend. A 2023 Bank of America survey found that most households Charitable donation Decisions are made or influenced by women.