Amplify’d from latimesblogs.latimes.com
Leaving money to children is not a priority for baby boomers
A survey released Tuesday shows only 49% of wealthy parents say it’s important to leave money to their children when they die. Instead, many people plan to use their savings for travel and to focus on personal relationships, according to the study by U.S. Trust, a unit of Bank of America Corp.
The survey polled 457 people nationwide with $3 million or more in investable assets.
Barely one-third of those surveyed expressed confidence that their children would be able to “handle” an inheritance. And 45% doubt their progeny will have sufficient financial maturity until they’re at least 35 years old.
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