Economic Inequality in America

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Overview

America has a complicated problem of economic inequality for people of color that dates back to slavery. According to the Pew Research Center, the black-white income gap in the US has persisted over time. In 2018 the median black household income was 61% of the median of white households. Promoting asset transfer between generations, intergenerational wealth, is a critical piece to the puzzle of closing the wealth gap.

Renowned author and journalist Rochelle Riley discusses how wealth disparity relates to the estates and trusts practice and how to effectuate change to diminish the racial wealth gap. Ms. Riley is best known for "The Burden," a collection of essays exploring the enduring impact of slavery and post-slavery discrimination on African Americans. She is a crusader for government accountability and improved race relations. ACTEC Fellow Stephanie Perry hosts Ms. Riley in this timely video.

Resources 

ACTEC Family Estate Planning Guide — This video library offers individuals and families insight into the fundamentals of wills and trusts to encourage planning. 

Rochelle Riley's website — Additional information about the speaker.

Networking Organizations:

• 100blackmen.org — One of the nation's top African American organizations.
• brownmamas.com — Making moms better moms, makes dads better dads, children become better adults and, ultimately, communities become better communities.
• jackandjillinc.org — A national group of mothers and fathers united to promote cultural awareness, educational development, health (education and advocacy), civic (legislative advocacy and service) and social/recreational areas.
• The Top 100 Black Lawyers 
• Black Greek Letter Organizations
• Black Fraternity and Sorority Facts 
• The Links, Incorporated — Membership of more than 16,000 professional women of African descent in 288 chapters located in 41 states, the District of Columbia, the Commonwealth of the Bahamas, and the United Kingdom.
• Association of Black Estate Planning Professionals
• Association of African American Financial Advisors

Other Resources:

• The 5 Myths That Keep Black Americans From Buying Life Insurance
• The Ultimate Bucket List of Black-Owned Restaurants Across the US
• Black Philanthropy Month
• Official Black Wall Street — A mobile app with thousands of black owned business listings.  
• Training Active Bystanders — A program whose mission is to weave the language and process of creative problem-solving into the fabric of the community by mediating cases that arise in all areas of community life, by teaching mediation and conflict resolution skills, and by implementing other forms of innovative dispute resolution.
• Coming to the Table — An organization whose focus is to work together to create a just and truthful society that acknowledges and seeks to heal from the racial wounds of the past, from slavery and the many forms of racism it spawned.