{"id":1197,"date":"2008-08-25T08:40:39","date_gmt":"2008-08-25T15:40:39","guid":{"rendered":"http:\/\/www.artsjournal.com\/artfulmanager\/wp\/2008\/08\/the_great_transfer_of_wealthor\/"},"modified":"2008-08-25T08:40:39","modified_gmt":"2008-08-25T15:40:39","slug":"the_great_transfer_of_wealthor","status":"publish","type":"post","link":"https:\/\/www.artsjournal.com\/artfulmanager\/main\/the_great_transfer_of_wealthor.php","title":{"rendered":"The great transfer of wealth&#8230;or not"},"content":{"rendered":"<p>The <i>New York Times<\/i> article and the corresponding blog entry may be a few months old, but they&#8217;re still worth a moment, as they flag a different future than many in philanthropy have been awaiting. &#8221;<a href=\"http:\/\/www.nytimes.com\/2008\/06\/21\/business\/yourmoney\/21money.html\">8 Reasons You Should Not Expect an Inheritance<\/a>&#8221; in the <i>Times<\/i> and &#8221;<a href=\"http:\/\/philanthropy.blogspot.com\/2008\/06\/transfer-what-wealth.html\">Transfer WHAT wealth?<\/a>&#8221; in Philanthropy 2173 suggest that the great generational transfer of wealth we&#8217;ve been awaiting like the Great White Whale may be more like a grouper than a whale.<\/p>\n<p>Over the past decade or so, financial planners and development officers have been drooling over the transfer of accumulated wealth from Boomers to their children. Said <a href=\"http:\/\/www.insurancejournal.com\/magazines\/west\/2004\/02\/23\/features\/37126.htm\">this article back in 2004<\/a>:<\/p>\n<blockquote><p>\n&#8230;by the year 2052, an estimated $40.6 trillion will change hands as Baby Boomers and their parents pass on their accumulated assets to their heirs.\n<\/p><\/blockquote>\n<p>The transfer meant freshly wealthy donors, and newly eager financial management clients. But, as it turns out, it&#8217;s more expensive to get older than it used to be. Asks Lucy Bernholz:<\/p>\n<blockquote><p>\nSo&#8230;what happens if the transfer happens but the money goes to things like housing and education costs? Or if the transfer doesn&#8217;t happen because it is really expensive to live forever as some baby boomers are planning?\n<\/p><\/blockquote>\n<p>It might be good time to revisit your capital gift projections (and planned giving cash flows) for the next decade to be sure they&#8217;re free of Boomer-transfer enthusiasm.<\/p>\n<blockquote><p>\nUPDATE: If this doesn&#8217;t shake your predictive capacity, consider <a href=\"http:\/\/mirushto.blogspot.com\/2008\/08\/wealth-transfers-and-charitable.html\">the possible impact of repealing the estate tax<\/a> [ thanks Michael ].\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times article and the corresponding blog entry may be a few months old, but they&#8217;re still worth a moment, as they flag a different future than many in philanthropy have been awaiting. &#8221;8 Reasons You Should Not Expect an Inheritance&#8221; in the Times and &#8221;Transfer WHAT wealth?&#8221; in Philanthropy 2173 suggest that [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-1197","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-main","7":"entry"},"_links":{"self":[{"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/posts\/1197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/comments?post=1197"}],"version-history":[{"count":0,"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/posts\/1197\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/media?parent=1197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/categories?post=1197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.artsjournal.com\/artfulmanager\/wp-json\/wp\/v2\/tags?post=1197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}