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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
Fax: (201) 997-9567
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Is inheritance a thing of the past?

New surveys are shedding light on the issue of inheritance for the next generation. A report suggests that nearly 40 percent of people in the age group of 13-22, also known as Generation Z, are expecting an inheritance and therefore don't see saving for retirement as a primary financial goal. This is large problem considering what their parents are saying about their own financial goals. Only 2 percent of adults with more than $100,000 in investments say that giving their children an inheritance is a financial goal.

This means that the next generation might find themselves financially strained if they don't properly manage their money. Estate planning might be one way for both parents and their children to ensure some money is passed on and the financial security of future family generations is assured.

An estate planning attorney can help a family assess their goals, and work with financial advisors to help accomplish goals that are suitable for a person's current financial situation, but still allow for some inheritance to be passed down. There are many different ways in which a parent can pass along an inheritance to their children. An inheritance can be set up in the form of a trust with a specific use that is designated for the assets.

This is just one option that parents might have to leave something for their children. Speaking with an experienced estate planning attorney can help you plan for future generations.

Source: USA Today, "Younger people expect inheritance that won't exist," Christine Dugas, Sept. 10, 2012

-Estate planning can be customized to fit each person's wishes. To learn more, please check out our website.

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