The great wealth transfer is underway, with experts saying that $72 trillion in assets will be handed down to younger generations in the next year. Wealth host Rachelle Akuffo sits down with Fidelity Investments head of wealth solutions Rich Compson to discuss best practices for transferring wealth.

“Some people think it's only the rich that have this wealth transfer, but what we actually see is everybody ends up passing on some kind of wealth and some kind of form,” whether it be “a savings account or retirement account, a home, or just stuff,” Compson tells Yahoo Finance.

He says people can think about the wealth transfer as “what do you want to do with your stuff over time?”

Compson discusses the importance of creating a financial plan and engaging in family conversations to best navigate the wealth transfer for both those giving wealth and those inheriting it.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Naomi Buchanan.