Megatrends and Planning For The Future

Recently there landed in my inbox an article about megatrends. A good definition of a megatrend is a structural change in society and a change that influences all aspects of society.

Many magazines/articles offer lists of the top ten, twenty or more megatrends for the year (or the decade).

Economists, brain trusts and ‘futurists’ are just a few groups interested in the impact of megatrends, or more precisely the advent of new trends.

Sifting through some of the information I came up with my own list of trends that have affected a sea change in our global society and will continue to have an effect on the way we live our lives in the near future.

Here are my picks of the megatrends, most of which could have an impact on your personal future planning:

The shift of people from rural areas to urban areas

Big data will have far-reaching effects on the way business is conducted

Sensory devices, things like facial recognition, speech recognition, holographics will become commonplace – 3-D printing will move to 4-D printing, solar technology will be based in space

There will be a rise of networked communities – interconnectivity

Mobile robots and drones will become commonplace and this will affect how healthcare is delivered and how people receive their goods

There will be more smart homes, smart buildings and smart healthcare

And where (according to some economists) will the most new economic growth be taking place? According to the International Monetary Fund (IMF) – There will be a burst of domestic production growth in Mexico, Poland, Turkey, Egypt, Nigeria, South Africa, Thailand, Vietnam, Philippines, and Indonesia.

Why would megatrends have any impact on estate planning? A Megatrend, by its very nature, means Change – with a capital C. I have written frequently that an estate plan is never ‘stagnant’, things change around the plan and a plan requires adjustment.

Laws change; the rules of how we conduct business change; health and health delivery systems change; society, society’s values and the value that society places on things – these change. The economy of our country is in a state of flux in relation to other (developing & developed) countries.

That is why my ‘tag’ is:

“Working to Preserve Your Wealth and Protect Your Future…in a Constantly Changing World”

Have you noted a major trend that you believe will affect your future planning?  I would like to hear your opinion.

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About Attorney Barbara Ann Dalvano

Attorney in Denver, Colorado with extensive practice experience in the areas of Estate Planning, Wills and Trusts, Business Succession Planning, Probate, Contract Law.

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