Big money, hidden challenges: Lurking issues for the great wealth transfer 

Potentially over $100 trillion. There’s no denying the first two words of the now-unavoidable term “great wealth transfer.” 

Yet the “transfer” part may not be as guaranteed, with a 2025 MDRT survey of 2,000 U.S. consumers representing four generations finding that 36% of respondents older than 60 don’t plan to pass down wealth — and of those who do, 63% aren’t working with a financial advisor. 

“A lot of families aren’t talking about it because they don’t believe that there’s actually going to be wealth there to transfer,” said seven-year MDRT member Danielle Annette Lucht, RICP, CDFA, of the anticipated movement of at least several tens of trillions from baby boomers to succeeding generations in the United States by 2048. “Even clients who have $2 million or $3 million are concerned about rising taxes, how inflation will erode wealth and what will happen if $120,000 per year is needed for memory care, and most retirees don’t have a plan to cover medical expenses in retirement. 

“How can we talk about transferring wealth if people don’t believe there’s going to be any wealth to transfer?” 

Creating opportunities 

For Lucht, who works with high-performing women and families in 27 states on “how to live a legacy while leaving a legacy,” the survey highlights how advisors can help older clients maximize their financial position while supporting younger generations now and after they’re gone. 

For one client, it meant Lucht creating a comprehensive plan to keep pace with inflation and use dividends and interest to fund family trips. 

As a result, the client, who initially felt financially insecure after her divorce, was able to take her family of 14 children and grandchildren on three expensive summer trips in the last six years. 

“By teaching her how to use different income sources to cover living expenses and the trips, she knows she is able to do this, even without alimony,” Lucht said. “And the memories she is creating with her children and grandchildren are what she values most.” 

Similarly, she advocates for creating segregated accounts with names like “vacation account,” “gifting account” or “birthday accounts,” as clients are more likely to dedicate money when it is given a purpose and a title. Otherwise, Lucht says, it can be easier for clients to put no effort toward planning, especially if clients are afraid of the price or effort required to build a relationship with estate planning attorneys. 

Even if there is resistance, however, it is important to circle back once a year, Lucht adds. 

“Markets change, personal relationships can change and opinions may change,” she said. “And that could be the reason why someone makes a change or starts to do an estate plan.” 

MDRT members can read the full article here.