The survey – conducted last December among investors with $5-million and up – deals mostly with the "values" side of family wealth but did include a question on trusts.
Two-thirds of respondents believed assets should be held in trust for the lifetime of their heirs.
Three quarters of respondents under age 56, who presumably have younger children, said lifetime trusts were a good idea.
But…more than half the respondents also said that heirs should be handed full control of their inheritances at a certain age, usually under 35. That's surveys for you.
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In targeting the $5 million and up market for legacy planning, how well does Merrill Lynch Private Bank get along with its BofA sibling, US Trust? Just asking.
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