A thought-provoking article about the potential for a massive transfer in inherited wealth from the baby boomer generation to their descendants (behind the Independent's paywall, with limited free access). Looking at it, this has been a recurring topic of comment over the past few years, since a figure of £1.2 trillion was estimated as the potential value involved in the UK.

The headline of the item strikes a jarring tone: "Why should we baby boomers be duty bound to bail out the next generation?" and depending upon where they find themselves on the generational curve (and particularly on the property owning curve) there would undoubtedly be no shortage of volunteers to help baby boomers - a generational tag for those born from 1946 to 1964 who are collectively regarded as have had many of the benefits of the post-War West, without the later economic challenges - work out why they should pass on their wealth.

A change of such significance requires reflection and brings with it much wider issues for society.  If the theories of money following money are right, much of this wealth will pass on to the already-affluent, and a divide that is emerging in society, typically focused around property ownership, which is such a focus for the UK, could widen.   And yes, as the Independent's clever photo suggests, the impact on North/South wealth could be striking.  

We see evidence of the existing generational wealth divide already in the concern raised about how difficult it is for people to get on the property ladder, particularly in areas with high-paying jobs, and the backwash from that in the Government's proposals to radically reform the rental sector, enhancing tenant's rights.  And to a degree we also see it in a greater embracing of overt philanthropy.  Both of these, in different ways, may change society.  

The moment of wealth transfer itself can be an issue, and we see a greater willingness of those who perhaps had expectations of benefiting from another during their lifetime or through their Will being prepared to challenge what has happened - cases like this are a staple of the newspapers and the courts.

None of which adds up to a clear prescription for the future, but an awareness of some of the hidden trends that will be impactful, and starting to think about how that may impact multiple generations and society more broadly is sensible, and may help to shape future decisions over what can be sensitive topics.