Over the next two decades, an estimated $124 trillion will be transferred.1 The first stop for a good portion of this wealth will go to surviving spouses. Cerulli expects $54 trillion will transfer horizontally to spouses.2 The offspring of wealthy families, Gen X and Millennials, also stand to benefit greatly. This great wealth transfer (GWT) is more than a financial milestone. It marks a cultural and generational transformation in how wealth is perceived, managed and given.

For estate planners, trust attorneys and financial advisors who deliver comprehensive wealth advice, this shift challenges long-held assumptions about philanthropy and demands a more values-driven, holistic approach to estate planning. We see it unfolding in real tim…