Business & Economy · 3 views
Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different reality
Wealthy baby boomers have spent decades building their fortunes—and the foundations, donor-advised funds, and giving traditions that come with them.
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Wealthy baby boomers have built fortunes and established foundations, donor‑advised funds, and giving traditions over decades. As the $124 trillion Great Wealth Transfer begins, a growing share of the older generation doubts that their children will continue those philanthropic practices. The uncertainty reflects concerns that heirs may not uphold the same level of charitable giving that their parents have maintained.
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