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Laxman Pai, Opalesque Asia:

Some $124 trillion in wealth will transfer through 2048, with around $105 trillion expected to go to heirs and $18 trillion to charity, according to a new study.

Much of that will come from the wealthy: About $62 trillion will be passed on from the wealthiest 2% of Americans, or those with a net worth of over $5 million, revealed the new report from Cerulli Associates.

Overall, heirs are inheriting around $2.5 trillion annually, and Cerulli analysts expect this figure to rise to more than $3 trillion annually by 2030 and to exceed $4 trillion around 2036. Gen X households inherit more than $1 trillion annually.

Cerulli said that amid these accelerating wealth transfers, it is critical for wealth managers, asset managers, and other industry participants to enact best practices with current relationships while shifting service and product strategies to the future profile of the high-net-worth demographic.

"Nearly $100 trillion will be transferred from Baby Boomers and older generations, representing 81% of all transfers. More than 50% of the overall total volume of transfers ($62 trillion) is expected to come from those who are currently high-net-worth and ultra-high-net-worth (HNW/UHNW), which together make up only 2% of all households," the report said.

Projections of horizontal, or intra-generational, transfers show that $54 trillion will be passed on to spouses before eventually transferring intergenerationally to heirs and cha......................

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