How women can prepare for the “great wealth transfer”
Smart financial planning can help you protect, grow and pass on your inheritance
American families are entering what financial experts call the “great wealth transfer.” Given longer life expectancies, many Baby Boomer women will outlive their spouses and assume full control of their households’ wealth, while older generations are expected to pass down trillions of dollars to their heirs over the next two decades. Women are poised to control a substantial share of this money in motion, and the steps they take today can help ensure they’re well prepared to manage that wealth moving forward.
What is the “great wealth transfer”?
Baby Boomers and older generations have built a lot of wealth during their lives, and that wealth will soon pass to their heirs. Nearly $105 trillion will be transferred by 2045,1 and the implications for women are explored further in the new 2025 UBS Own Your Worth report. For example, Baby Boomer women are expected to assume control of $40 trillion of that total by outliving their spouses in the coming years.2
How does the “great wealth transfer” impact women?
According to the latest UBS research, 80% of women who’ve already inherited assets from their parents faced challenges along the way: Many of these women said they’d had little to no conversation with their parents about the wealth transfer beforehand and/or didn’t know how much money their parents had. Meanwhile, 83% of recently widowed women report experiencing similar wealth transfer challenges, such as uncovering a financial surprise, their partner’s lack of a wealth transfer plan or conflicts among heirs.3
Steps women can take to improve their future wealth transfer experience
The wealth transfer process will add to the growing net worth of American women. Ensuring the process is as smooth as possible allows women to make the most of the opportunities that this new wealth can afford them, while mitigating the risks of any challenges they may face. UBS research found that almost three-quarters (74%) of women who expect to inherit from parents aren’t necessarily prepared to receive these assets and are on track to experience similar challenges unless they take action.
But the good news is that this research also explored valuable advice and lessons learned from women who’ve received an inheritance for those who may be expecting to inherit one day:4
- 90% recommend identifying the size and various components of an inheritance.
- 87% recommend understanding and planning for the potential consequences of estate and capital gains taxes.
- 80% recommend knowing the various investment options and strategies available.
UBS research also showed that women who’ve assumed full financial control of household wealth after being widowed have very clear advice for other women to help them better navigate the wealth transfer process:5
- 91% recommend taking an active role in understanding your household finances.
- 88% recommend proactively meeting with your financial advisor while married.
- 87% recommend developing a plan beforehand with your spouse in the event of death.
Building generational wealth: Strategies for women
Women are in a position to help their families manage future wealth transfer events in a way that positions them for long-term financial success. Before they inherit wealth or assume full control of household wealth, women can talk with their parents and/or spouses about estate details, learn as much as they can about specific assets, and involve trusted advisors to answer questions and make key financial planning decisions. Conversations and careful planning can address how the wealth transfer will impact a current financial plan and cash flow considerations, and how the money may fit into one’s broader portfolio.
After women inherit assets, they may consider protecting that wealth for the future with a well-prepared estate plan. These plans can include important tools like educational savings accounts, donor-advised funds or foundations that help families achieve their legacy goals. Estate plans consider topics such as tax planning, end-of-life expenses, distribution of assets and succession within family businesses.
With careful financial planning and a thoughtful strategy, women in the midst of the “great wealth transfer” can gain resources to make a significant difference in their own lives and create a legacy to benefit their families and communities for generations to come.
At a glance
At a glance
- Women are set to inherit a significant portion of the “great wealth transfer,” meaning it’s critical to be financially prepared.
- Thoughtful estate and investment planning can help women manage their wealth transfers and leave a lasting legacy.
- Financial engagement and planning can help women confidently manage and grow their wealth.
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1,3 “In a Growing Share of U.S. Marriages, Husbands and Wives Earn About the Same,”, Pew Research Center, April 2023 https://www.pewresearch.org/social-trends/2023/04/13/in-a-growing-share-of-u-s-marriages-husbands-and-wives-earn-about-the-same/
2 “Tradition, trust and time: The challenges women breadwinners face embracing their financial clout,”, UBS, 2023 https://www.ubs.com/content/dam/assets/wm/static/doc/own-your-worth-pp-ada.pdf
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