New website allows millionaire-heirs to manage future funds

Citigroup, which is partially owned by the U.S. government, recently launched a website allowing heirs to the corporation's wealthiest clients to better manage their future funds.

On the new website, these heirs can log in and access accounts funded by their parents. From there, these users can then allocate their new funds however they please, including spending, investing or donating to charities.

The goal is to monitor the actions of these heirs to determine whether their allocation habits are appropriate and mature, with the hope that when they do inherit their funds, they will wisely handle their fortune.

"Intergenerational wealth transfer is a very big issue for the industry," analyst Amy Butte said and further stated that $1 trillion will be inherited in the U.S. through 2025. "Even if we're half-wrong, it's still hundreds of billions of dollars."

If or when these heirs reach dangerous levels with their accounts, Citigroup alerts the parents in order to curb the situation.

"Young adults have no place to go to learn about money and learn about finance, particularly in a tone and a medium that they can relate to," Butte concluded.