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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%.
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