Home Breadcrumb caret Tax Breadcrumb caret Estate Planning Wealthy to leave 30% of estates to children Help clients decide how much to leave to kids. By Staff | April 8, 2014 | Last updated on April 8, 2014 1 min read Wealthy investors (those with more than $1 million in investible assets) plan on leaving about a third of their money to their children, says a new BMO study. Then, they’ll divide the rest as follows: Spouse or partner (60%) Other family members (4%) Charities (3%) A board or company (3%) Read: 5 steps to estate success Most of those polled (80%) say their children are ready to manage inherited wealth. That’s largely because more than half (65%) have spent time educating their children about money management. Parents don’t have “ability to guarantee bull markets and a strong overall economy for [their] children, [but they can]…teach [them] about personal finance issues,” says Yannick Archambault, vice president and COO of BMO Harris Private Banking. “The earlier a family is committed to educating the next generation, the better off they will be when the transfer of wealth occurs.” Read: Low financial literacy plagues Millenials Still, only about a quarter (26%) of wealthy Canadians say their children will be more financially successful than they’ve been. Almost half (41%) say their kids will be worse off, with 60% blaming the economy. American parents are more optimistic, says the study, since nearly half (43%) predict their children will amass more wealth. Only 35% say their kids will be worse off. Read: Don’t delay planning Can clients leave kids their pensions? How to keep second-generation clients When there’s no will When your client wants to change beneficiaries Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo