Inheritance: Some ultra-rich pick charity over kids
By Blake Ellis, CNN
Tough luck, kiddos: Your rich parents may give the fat inheritance you're expecting to charity instead of to you.
About 32% of high and ultra-high net worth Americans say it isn't important to leave inheritances for their children, according to a report released Monday by U.S. Trust, Bank of America's private wealth management division. Among baby boomers, that percentage rises to about 45%.