Nearly $400 million in wealth transfer expected

During the next 10 years, more than $390 million of wealth in Perkins County will transfer from one generation to the next. 

That astounding number was among the findings of the Nebraska Community Foundation’s 2021 Nebraska Transfer of Wealth Study. 

The study revealed that more than $100 billion of the state’s wealth—that’s billion with a “B”—will pass from one generation to another during the same time frame.

Over the next 50 years, the figure swells to $950 billion.

This marks the third study in as many decades conducted on behalf of NCF. 

The study serves as a vital tool in inspiring Greater Nebraskans to think about their communities in bigger terms, according to Jeff Yost, NCF president and CEO.

Yost said the transfer of wealth from generation to generation remains a constant, as parents pass away and leave their estates to their children. 

It’s one thing when the wealth stays in the community or county where it was made. 

However, due to outmigration over the years, many of those heirs no longer live where the wealth was built and may no longer feel connected to the those places. 

Once that wealth leaves Nebraska communities, it’s more and more unlikely it will never come back.

For much of the state, including Perkins County, the peak of that wealth transfer will occur over the next 24 years. 

In an effort to raise awareness of how that wealth can help grow and benefit local communities, NCF officially launched its “Five to Thrive” campaign Monday. 

The campaign urges Nebraskans to consider leaving 5% of their estate to their community. 

The study shows that 5% of that wealth returned to Perkins County would represent an investment of $18 million back into the county. 

“If just 5% of the transfer of wealth were endowed, think of the impact that kind of money could have on education, health, prosperity and quality of life,” Yost said. 

 It could contribute to a community’s ability to attract quality talent,  young families and could be a game changer, he added.

The Perkins County Community Foundation Fund (PCCFF), affiliated with NCF, has already created an endowment fund of more than $680,000.

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