$59 trillion to go to heirs, charity by 2061

[Jesus Malverde]

Source: CNBC

The greatest wealth transfer in history is underway, according to a new report.

A study from the Boston College Center on Wealth and Philanthropy projects that $59 trillion is expected to be passed down to heirs, charities and taxes between 2007 and 2061.

The study said heirs will receive $36 trillion over that period, while federal estate taxes will receive $5.6 trillion.

Total gifts to charity during the period of the study are expected to be more than $27 trillion, which includes sums from final estates (with no surviving spouse) as well as total lifetime giving.

Read more: http://www.cnbc.com/id/101711232

[Initech]

1. Socialism exists - it's just not for us.

[Nobel_Twaddle_III]

2. TAX DEAD PEOPLE !

[devils chaplain]

3. $36 trillion for heirs... well earned, children, well earned!

If only those poor kids worked as hard as you.

[klook]

4. A rising tide lifts all yachts. (n/t)

[Javaman]

5. That means sometime around 2035...

the rest of the population should look like pre-revolution Russia.

Hold on tight. If things don't get better, it's going to get a hell of a lot worse.

[Warren Stupidity]

6. In the 1890's the elites owned 90% of all wealth and inheritence figured into that

in a big way. We are headed in the same direction. It took the grisly disasters of the two world wars to break apart their death grip on wealth.

[littlemissmartypants]

7. Kicking. nt

[defacto7]

8. I don't know economics but

I think 90% of all wealth over $1 million after death should be distributed in the public interest... tax. The other 10% should be distributed to the heirs only if it's less than $1 million the rest becomes a trust that can be distributed as the heirs see fit and have to follow the rules of trusts or forfeit to the federal government.

That should stick in little Chauncey III 's craw.

[Leme]

9. they got an inheritence tax break in 2003 or so

it was restored also after it expired I think. They saved millions
-
the rest of the people got some hundreds or maybe a couple thousand

[OnlinePoker]

11. From the Executive Summary of the actual study

I haven't gotten further than the summary and came upon this statistic. It's pretty telling:

During the recession, households with more than $1 Million in wealth in 2007 (10% of households) lost nearly $10 Trillion in aggregate wealth whereas those with wealth of $100,000 or less (50% of households) lost a total of $977 Billion in aggregate. Sounds bad for the rich, but when looked at as a percentage, the top 10% lost 21% of their total wealth during the recession, but the bottom 50% lost an incredible 81% of theirs.

[melm00se]

12. interesting that many assume that

only the rich pass down an inheritance to their children.

this study looks at 116 million households which certainly includes a full range of wealth (from zero all the way up to "Holy $hit that's a lot of money&quot .