<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A massive generational wealth transfer looms over the coming years, with baby boomers forecast to pass on about $175 billion annually via their wills.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A new Finder survey discovered that 63 per cent of respondents - almost two in three - planned to pass on money or assets upon their death.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Of those intending to leave a will, the overwhelming majority plan to leave the bulk to their children (63 per cent), while 22 per cent will prioritise their partner.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/andrew-mountbatten-windsor-arrested-pm-anthony-albanese-throws-support-behind-push-to-remove-former-prince-from-line-of-succession/8efe37b6-5ff5-48ba-aa48-fe1834cc89cd" rel="" target="_blank" title=""><strong><span>Albanese backs push to boot former prince Andrew from royal succession</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Five per cent planned to leave their estate to extended family, and four per cent to their siblings.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Productivity Commission has found that baby boomers will pass on about $175 billion a year in the decades ahead, as household wealth balloons against a backdrop of booming property prices and rising share markets.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Finder personal finance expert Sarah Megginson said wealth transfers were large and growing.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/baby-boomer-major-wealth-transfer-inheritance-looming/bd9714b3-a44c-401c-88c3-36c3ee277a28" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Australia is on the cusp of the largest intergenerational wealth transfer we've ever seen. The decisions families make now will shape financial outcomes for decades," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/two-men-dog-dead-after-utv-crash-sandy-creek-sunshine-coast/5d9de827-c087-4026-bd21-1a22505bcf41" rel="" target="_blank" title=""><strong><span>Two men, dog killed in Sunshine Coast crash, woman critically injured</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Megginson said for many parents, leaving an inheritance is about giving their children a head start in an increasingly expensive world.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The fact that children are the clear priority reflects rising living costs and housing affordability pressures, with many Australians wanting to ease that burden for the next generation," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/highspeed-rail-australia-sydney-to-newcastle-link-to-be-shovelready-in-two-years-government-says/3776f232-1ad2-46bd-a731-85721758eafb" rel="" target="_blank" title=""><strong><span>Sydney to Newcastle high-speed rail to be 'shovel-ready' in two years</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"An inheritance can be life-changing, but it can also be fleeting if it's not managed wisely."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Megginson urged Australians to have a legally valid will in place to clearly set out how their assets should be divided, and to establish who would manage the estate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's far better to make these choices early and communicate them clearly, so loved ones aren't left confused or disappointed down the track," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If you're likely to receive an inheritance, think carefully about how you can use that money wisely – not just for today, but in a way that creates long-term financial security for future generations."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>