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Transfer Of Wealth Report

“Many of our clients think first of their families as the beneficiaries of their estates,” said Rob Garcia, of Rob Garcia Wealth Management. “The Transfer of Wealth study illustrated for me what a tremendous impact we can have if everyone were to leave just 5% of their estate to the community. Just 5%!”

That’s just one of many positive responses to the results of a study commissioned by The Community Foundation. The study found that as much as $62 billion will be passed from one generation to the next in San Luis Obispo County over the next 50 years. If every resident left 5% of their assets as an investment to the quality of life in this community, as much as $3.1 billion would be collected that produces $155 million for annual investments in the community.

“I now have much more candid conversations with my clients about the impact we can collectively make when we consider leaving at least 5% of our estate to the community,” Garcia continued.

Jenifer Rhynes, Executive Director of the San Luis Obispo YMCA said, “The report has enabled YMCA volunteers and staff alike to understand the implications of estate planning and the value it presents for generations of youth to come.”

This transfer of wealth study shows how we all can make a difference for future generations, the first of its kind locally, and the third conducted in California. Its findings are intriguing and help people begin to understand the power each one has to leave a legacy. The information came as welcome incentive for all, underscoring the fact that decisions made today will greatly impact the future.  


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