Wealth Transfer in Michigan and the Incredable Legacy We Can Leave to Northeast Michigan
In 50 years, $972 billion is expected to pass from one generation to the next in Michigan. In just 10 years, $140.6 billion will have transferred.
National research projects a $53 trillion transfer of weath across the United States. but while the average transfer nationwide will peak after 50 years, wealth transfer in Michigan counties will crest in twenty to thirty years. In Alpena County, the greatest wealth trasfer will likely happen between 2030 and 2035. In the counties of Alcona, Montmorency and Presque Isle, it will happen between 2025 and 2030.
Much of the wealth is currently invested in family homes and farms, retirement accounts and other appreciated assets - some of which may be heavily taxed if given to heirs.
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