The moment when wealth passes from one generation to the next is often imagined as a single event. In reality, it’s a journey shaped by years of decisions and preparation. For high-net-worth (HNW) families, that journey is becoming increasingly significant as vast wealth is expected to change hands in the coming years.

Julius Baer’s new Wealth Matters guide, How to Plan Your Succession and Wealth Transfer, examines how families can navigate this transition in a world where wealth, family structures, and assets are more global and complex than ever. Here, we explore some of the guide's key findings and the practical insights they offer for families preparing for the future. For full access, please download the guide at the end of this article. 

Early planning ensures a smooth generational handover

A clear conclusion of the report is that timing matters. Succession planning has taken on new urgency as the scale of the coming wealth transition becomes clearer. According to Altrata, an estimated USD 30.9 trillion will pass between generations by 2033, as around 1.2 million individuals with wealth exceeding USD 5 million transfer their assets. Yet many HNW families still lack a formal succession strategy.

Without preparation, even well-intentioned plans can falter. Beneficiaries may be unprepared for the responsibility of managing significant assets, while disagreements over ownership, control, or direction can create friction within families. Unexpected events, from market shocks to personal emergencies, can add further complications.

Starting early helps overcome these challenges. The guide recommends beginning with a comprehensive overview of one’s wealth – including assets, liabilities, family circumstances, and long-term objectives. From there, families can involve advisors, align stakeholders, and document their intentions. In this way, succession planning becomes a structured process that evolves over time. For concrete tips on creating an overview – including how to start planning with an emergency folder – see the full guide. 

International families require cross-border planning

For internationally mobile families, succession planning often spans several jurisdictions. A family may live in one country, hold citizenship in another, and own businesses, investments, or property across multiple locations.

In this context, wealth transfer becomes a cross-border exercise requiring careful coordination of legal, tax, and regulatory frameworks. Different jurisdictions may take very different approaches to inheritance. Testamentary freedom in one country may coexist with forced heirship provisions in another, while assets such as private companies or real estate can introduce additional complications. As Gabriele Di Girolamo, Head of Wealth Planning Europe at Julius Baer, explains: “Put simply, the core objective of a succession plan should be to ensure that the family’s wealth passes in line with the wishes of the wealth creators.” Explore the guide for pragmatic guidance that supports families across the world.

Ensure your family members are aligned

While succession planning often focuses on legal and financial structures, the guide highlights the importance of family dynamics and communication. Inheritance can bring differing expectations and priorities to the surface. Heirs face a massive amount of responsibility, and it’s important to keep everyone aligned from the beginning. 

Although many families believe they share common values, transparency around succession planning remains limited. Fear of conflict is one of the main reasons families postpone conversations about wealth transfer. However, structured dialogue and governance can overcome these barriers. Our guide explores these structures in detail, with access to real client case studies. 

Tips for planning a modern legacy

In today’s evolving landscape of wealth and legacy, planning extends far beyond traditional assets and inheritance. From managing the digital assets you accumulate to shaping long‑term impact through thoughtful philanthropy, modern succession planning is becoming richer and more multidimensional. Whether it’s ensuring loved ones can access important online accounts or defining the values that guide a family’s giving, these emerging considerations are reshaping what it truly means to leave a legacy. Julius Baer’s guide delves deeper into these themes, offering insights and practical steps for anyone looking to future‑proof their estate and amplify their purpose.

Your next step toward succession

Succession planning works best when approached as a disciplined process of preparation. By reviewing their wealth holistically, articulating long-term intentions, and engaging trusted advisors, families can approach transition with greater confidence and clarity. In doing so, they place both their capital and their values on a foundation designed to endure well into the future. Get your guide now and start planning your future today.