Around $6 trillion is expected to pass to heirs across the world’s richer economies this year.
I came across this estimate recently in The Economist, and it made me curious to look a little further into what is happening with inheritance globally.
The number itself is extraordinary. But what I found more interesting is how differently countries treat the transfer of wealth between generations and how quickly inheritance becomes an international issue when families, assets and heirs are spread across different countries.
According to research by the Organisation for Economic Co-operation and Development (OECD), 24 OECD countries levy inheritance or estate taxes. But the rules vary enormously.
In the UK, for example, inheritance tax is generally charged at 40% on the portion of an estate above the applicable thresholds. In the US, the top federal estate tax rate is also 40%, but in 2026 the federal basic exclusion is $15 million per individual.
And in countries such as France and Germany, who receives the inheritance can make a significant difference, as allowances and tax treatment depend partly on the relationship between the person transferring the wealth and the beneficiary.
So two families with similar levels of wealth can face very different situations depending on where they live, where their assets are located and who ultimately inherits them.
For international families, this becomes particularly interesting.
A family might live in Dubai, own a business in Europe, have property in the UK, investments with an international bank and children who eventually settle in different countries.
We tend to think about someone’s estate as one thing. In reality, it may cross several jurisdictions, each with its own succession and tax rules.
And inheritance does not necessarily start when someone dies. Parents help children buy homes, establish businesses, pay for education and make significant gifts during their lifetime. In many families, the transfer of wealth between generations is already happening.
That made me think that perhaps we should look at inheritance less as a single event and more as a process that can take place over many years. Taxes are just one part of the equation.
Imagine a family with a successful business, several properties and an investment portfolio.
Dividing everything equally between three children may look perfectly fair on paper. But what if only one child works in the business? What if another lives abroad? What if a property is extremely valuable but produces little income?
Equal ownership does not necessarily create a simple outcome.
Then there is something else that I think deserves more attention: whether the next generation is actually prepared for the assets it may receive.
The generation that created the wealth has probably spent decades making decisions around it. They know the businesses, the investments, the advisers and the reasons certain decisions were made.
The generation receiving that wealth may not.
An heir can receive shares without understanding the company. They can inherit an investment portfolio without understanding its risk. They can suddenly own assets together with siblings without ever having discussed how decisions will be made.
Preparing an inheritance and preparing someone to inherit are not the same thing.
And perhaps that is one of the more important aspects of the wealth transfer currently taking place.
Older generations still hold enormous amounts of property, investments and business wealth. A significant part of that wealth will eventually move to younger generations.
Which means many families still have something extremely valuable: time.
Time to understand what they own and where they own it.
Time to decide what they actually want to happen.
Time to involve the next generation in those conversations.
The more I have looked into inheritance, the less I see it simply as a question of transferring assets.
It is also a transfer of ownership, knowledge, responsibility and, in many cases, control.
The $6 trillion figure is impressive.
But perhaps the more interesting question is whether the families behind that number are prepared for everything that comes with it.
Originally published by Paulina Cervera Taboada on LinkedIn.
