Discussing Financial Gifts With Family.

The article discusses the concept of the "Great Wealth Transfer," which refers to the estimated $84 trillion in assets that will be passed on to heirs and charities by 2045. While estate planning is typically involved in wealth transfer strategies, many individuals also choose to make financial gifts while they are still alive. The article provides advice on how to navigate discussions about financial gifts with family members, emphasizing the importance of clear communication and considering the purpose and expectations of the gifts. It also suggests involving children in the decision-making process and establishing core principles to guide the distribution of gifts. [Extracted from the article]