The greatest wealth transfer in history is underway, according to a new report.
A study from the Boston College Center on Wealth and Philanthropy projects that $59 trillion is expected to be passed down to heirs, charities and taxes between 2007 and 2061.
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The study said heirs will receive $36 trillion over that period, while federal estate taxes will receive $5.6 trillion.
Total gifts to charity during the period of the study are expected to be more than $27 trillion, which includes sums from final estates (with no surviving spouse) as well as total lifetime giving.
The study assumes economic growth rates of 2 percent and the extension of current tax provisions. If the economy grows at 3 percent a year, charitable giving could reach $40 trillion, according to the study.
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