Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

SEI: Wealthy Families Not Necessarily Prepared for Death

Your article was successfully shared with the contacts you provided.

Estate planners may dream of landing wealthy clients, but that does not mean that all wealthy families have top-shelf estate plans in place.

SEI Investments Company, Oaks, Pa. (Nasdaq:SEIC), talks about wealthy families’ lack of preparation for the passage of time in a summary of results from a survey of about 100 individuals from families with an average net worth of about $20 million.

Only 46% said they have a comprehensive wealth transfer strategy or plan in place, and 38% said they have nothing beyond preparing a will. Another 8% said they have not even prepared a will.

SEI found a large gap between plans and expectations: Even though the majority of the survey participants have not determined how they will pass wealth on to family members, 80% expect to do so.

- Allison Bell

Other wealth transfer coverage from National Underwriter Life & Health:


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.