BABY BOOMERS MIXED ON WEALTH TRANSFER

New York - Just under half of affluent parents (49 percent) in a nationwide poll felt it was important to leave a financial inheritance to the next generation, according to the U.S. Trust Insights on Wealth and Worth Survey.

Polling 457 high-net-worth and ultra-high-net-worth individuals with $3 million or more in investable assets, the survey found that surprisingly few had well-developed plans to preserve and pass on their assets to either their children or charity. The survey also found:

* While 88 percent of the wealthy have an estate plan in place, nearly four in 10 (or 39 percent) acknowledge that their estate plans are not comprehensive.

* Nearly half (48 percent) have not established a revocable trust, and seven in 10 (72 percent) have no irrevocable trust, either.

* One in 10 has never discussed tax planning with their advisor, even though only one in three people surveyed strongly agrees that their investment portfolio is structured to minimize the impact of taxes.

* Only about 34 percent strongly agree that their children will be able to handle any inheritance that they plan to leave them.

 

WOMEN MORE CONFIDENT ABOUT RETIREMENT PLANS

St. Louis - The confidence level of women in their ability to plan for retirement has reached a three-year high, according to a new survey, with 69 percent of women rating their confidence level as good or very good. In addition, for the first time in three years, women's confidence is on par with men's (71 percent of men rate their confidence as good or very good). The survey, commissioned by online investing firm Scottrade, shows that women's savings tactics differ from men's. Forty percent of women have structured their portfolios to include investments that will generate income during retirement, compared to 30 percent of men. In addition, more women have started to save for retirement than men (79 percent versus 74 percent).

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