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Overall, 2019 was a year that focused significant attention on the wealthiest Americans and kept the estate-planning community heavily engaged in planning activities.
Increasing Concentration of Wealth
Studies in 2019 focused on the concentration of wealth in the United States, finding that the wealthiest 10% of households now represent 70% of all wealth (up from 60% in 1989), and the top 1% now hold 32% of the wealth (up from 23% in 1989).1 As a corollary, Forbes reported in March 2019 that in the United States, there are now a record number of billionaires—607.2 Such reports evidence the increased demand for advisors who have the expertise and skills to handle the unique planning needs associated with significant wealth.
TCJA Implications
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