Reparations to Inheritance: America is on the verge of a huge Baby Boomer wealth transfer (WATCH)

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Reparations to Inheritance: White America is on the verge of a huge Baby Boomer Wealth Transfer Attorney Antonio Moore and Political Commentator Yvette Carnell discuss the announcement by CNBC that nearly 68 trillion is set transfer from White baby boomers to their millennial children. The two also discuss the coming announcement former Vice President Joe Biden will likely run for President in 2020 and what it means for #ADOS . Lastly, they critique Ta-Nehesi Coates article published by the Atlantic “The Case for Reparations ”.

 

CNBC Here’s how to prepare your heirs for the $68 trillion ‘great wealth transfer’

We are entering the largest wealth transfer in history.

Over the next 25 years, according to a report from research firm Cerulli Associates, 45 million U.S. households will pass a mind-boggling $68 trillion to their children — the biggest generational wealth transfer ever.

Individual retirement accounts alone in the U.S. held more than $9 trillion in assets at the beginning of last year, according to the Investment Company Institute’s 2018 Investment Company Fact Book. To that point, many Americans are inheriting substantial wealth from their parents through IRAs. But mistakes in handling these accounts could result in needlessly losing much of this wealth to taxes. In order to increase the chances of a successful wealth transfer, it’s important to understand the proper steps to follow.

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