$3 Trillion is set to pass through Generation X as part of Australia’s great wealth transfer.
But only half of Gen X have a will.
In the latest episode of The Purposeful Investor, David Andrew and Aden Wilkins are joined by Morgan Solomon, founder of Solomon Hollett Lawyers. to unpack the second volume of the Inheritance State of research.
Based on a survey of around 900 Western Australians across age groups and wealth brackets, the research reveals a significant gap between what Australians assume will happen to their estate and what they have actually put in place.
Some of the findings:
– 41% of Australians are now on track to die without a will
– Just 18% of families have had a detailed conversation about their estate
– 57% of Gen Z expect an inheritance dispute, compared with just 27% of boomers.
The episode also explores the rise of the “thin veneer of affluence”, people who may appear financially secure but are carrying significant debt and financial pressure, and what this means for future inheritance claims.
With trillions of dollars set to change hands between generations, estate planning is becoming an increasingly important part of the broader wealth conversation.
