A recent UBS survey revealed a striking trend: 53% of ultra-wealthy families in the U.S. now have a will or estate plan—an increase from 47% the previous year. With an estimated $124 trillion expected to transfer generationally through 2048, this uptick signals more than just a shift in priorities. It reflects a growing urgency among high-net-worth individuals and business owners to structure their affairs with foresight and precision. For any business succession planning lawyer working with multi-generational companies or closely held family enterprises, this movement marks a pivotal moment.
The Shift That’s Reshaping Succession Priorities
The scale of wealth transfer underway is unprecedented. Business owners are recognizing that without clear succession plans, operational continuity and long-term value may be at risk. This realization is now driving an increase in cross-disciplinary collaboration between legal, tax, and financial professionals.
The growing interest in formal estate planning isn’t just about passing down personal wealth, it’s about securing business continuity. Whether a founder steps down unexpectedly or plans a phased retirement, legal clarity on ownership, control, and tax exposure is vital. Business succession plans that once lived in informal conversations are now being formalized to avoid costly disruptions and future litigation.
When Taxes And Family Tensions Collide
Without early succession planning, families and business partners may face unexpected estate tax burdens that force asset liquidation or company restructuring at inopportune times. Worse, disputes over control or equity distribution can fracture families and endanger business operations.
Properly structured succession strategies, especially those coordinated with trust vehicles, buy-sell agreements, or charitable planning, can minimize estate tax exposure and preserve company value. For law firms advising high-net-worth clients or corporate stakeholders, the message is clear: early planning is not optional. It’s foundational.
Strategic Action Items For The Planning Boom
Firms serving corporate clients, fiduciaries, or family offices should proactively address this shifting landscape. The rise in formal estate planning highlights a need for better integration between corporate counsel, accountants, and succession planning professionals.
Advisors should encourage their clients to conduct risk assessments of existing plans (if any), review current ownership structures, and evaluate how potential tax policy changes could impact future transitions. With the IRS closely watching valuation and transfer scenarios, particularly when life insurance or minority interests are involved, legal clarity is not just beneficial, it’s protective. Whether working with clients in real estate, manufacturing, or professional services, aligning business strategy with legacy planning is becoming a best practice. And as more wealth changes hands, the firms that offer long-view solutions will be the ones building lasting B2B relationships.
Align Your Services With The Future Of Planning
The trend is clear: succession and estate planning are no longer reserved for “someday.” They are happening now, with real implications for clients, shareholders, and business advisors. If your firm supports companies or families managing generational transitions, this is the time to join the broader conversation.
Law firms with experience in succession, tax planning, or corporate structuring are encouraged to list with Estate Planning Pros, a resource hub connecting trusted professionals across the country. As more families and companies seek proactive legal guidance, now is the time to align your services with this growing demand. To join the network of trusted advisors featured by our professionals, contact us today.