We’re standing at the front edge of one of the most significant financial shifts in history. Over the next 20 years, trillions of dollars will transfer from Baby Boomers to Gen X and Millennials. For many families, this won’t just be a line item on a balance sheet; it will be the single largest financial event they ever experienced. And yet, most families aren’t prepared for how complex these transitions can actually be.
Estate and legacy planning is about coordinating people’s relationships with loved ones, their expectations, and the timing and clarity needed to ensure a smooth transition.
Why Wealth Transfers So Often Go Sideways
When beneficiaries aren’t prepared, decisions tend to get made quickly and under pressure. People’s emotions run high, and context is often missing. What should be thoughtful choices become reactive. Inheritance decisions rarely happen in calm, well-planned environments. They occur during periods of grief, urgency, and uncertainty — precisely when people are least equipped to make sound financial decisions.
A lack of clarity can create confusion and unnecessary costs when it comes to an inheritance strategy, or the absence of one. This isn’t because families don’t care. They waited too long to discuss what the plan was meant to accomplish. Documents may exist somewhere in a will or an outdated trust, but understanding/comprehension is absent. That’s why estate planning works best when heirs don’t just receive assets, but also understand the intent behind them.
And the data supports what many advisors see firsthand. Studies show that 70% of wealthy families lose their fortunes by the second generation and 90% by the third. Even more striking, nearly 18% of large inheritances are fully depleted within just a few years, usually due to poor coordination and reactive financial decisions. Wealth transfer without communication and guidance rarely sustains itself.
As a family financial planner, I’ve seen hundreds of inheritance scenarios. From well-executed transitions to situations defined by confusion/chaos. My role isn’t just about helping families accumulate wealth; it’s about helping them organize, communicate, and structure succession plans so assets move intentionally, not accidentally.
Preserving Purpose, Not Just Passing Assets
The goal of estate planning isn’t to move wealth from point A to point B; it’s to preserve purpose and ensure the “why” behind the plan is as clear as the “what.” Good planning prepares the next generation before they need to act. It gives them context. And it reduces the likelihood that important decisions are made in isolation or in uncertainty. Waiting until a transfer event happens severely limits your options. By then, the opportunity to guide, explain, and align has often passed.
When beneficiaries already have a trusted advisor relationship in place, transitions tend to be smoother and far less stressful. I build relationships early with beneficiaries, and that continuity matters. It creates stability during moments that can otherwise feel overwhelming, some of life’s most challenging moments.
Estate Planning Tools: Setting the Stage for What Comes Next
This wealth transfer isn’t a future event; it’s already underway. The question isn’t whether assets will change hands but whether that transition will be intentional and aligned with your family’s needs and expectations.
To help families prepare for this moment, I’ve built an estate-planning tool that provides clarity and structure to the whole process. It’s a practical way to assess where you are today and identify what needs attention before decisions become urgent.
If you’re thinking about how to prepare your family for the next chapter, this is a great place to start.
Let’s Make Sure Your Plan Is Ready!
If you’d like help accessing the Estate Planning Tool or would like to discuss what preparation looks like for your family, my door is always open.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.
