The wave of wealth transfer is extremely important for financial professionals advising clients on their estate plan strategies. Research from Cerulli in its 2024 U.S. High-Net-Worth and Ultra-High-Net-Worth report shows nearly $124 trillion will be transferred from generation to generation by 2048. In 2025 alone, $2.5 trillion is expected to transfer.
Tax policy affecting wealth transfer is also important, as Congress and the president grapple with the looming sunset of many provisions of the Tax Cuts and Jobs Act (TCJA). For example, the federal estate tax exemption, which is $13.99 million per person ($27.98 million per married couple) could revert to what it was prior to the TCJA ($5 million per person/$10 million per married couple, indexed for inflation).
