"At least $16 trillion of ultra-high net worth (UHNW) individual's wealth will be passed on to the next generation over this period, spawning a new crop of multimillionaires, the Wealth-X and NFP Family Wealth Transfers Report published on Tuesday said."
"Around 30 percent of the net worth of these individuals' wealth is in liquid assets, allowing more flexibility for the next generation to invest and spend their inheritance as they like."
"However, a large chunk of wealth that is due to be transferred is also concentrated in the ownership of privately held businesses."
"Without adequate planning, the ultra wealthy could lose up to half of their fortunes through inheritance taxes, the report warns."
"Estate taxes in some developed countries including Japan and Germany are as high as 50 percent of the wealthiest people's net worth."
Coming Soon: The Biggest Wealth Transfer in History
As the world’s richest retire, the next three decades will see the most amount of money change hands — ever.