The great wealth transfer is giving Americans another reason to argue

The largest wealth transfer in history is causing a surge in estate disputes. Learn how to protect your estate and inheritance gifts.

Americans have a new beef – a legal one, that is.

As more than 11,000 baby boomers now turn 65 years old every day, approximately $124 trillion is expected to shift to younger generations and charities through 2048, according to Cerulli and Associates. Even with financial advisers helping Americans prepare both boomers and heirs for the largest wealth transfer in history, more disputes are arising, data show.

Between 2020 and 2024, the number of probate and estate cases entering state courts rose about 32%, based on data from 39 states, according to the independent nonprofit National Center for State Courts.

Much of the increase is tied directly to the massive intergenerational wealth transfer, experts said. As assets shift to Gen X, millennials and Gen Z, planning gaps are turning into lawsuits, hurting relationships and eating into inheritances, they said.

“Traditionally, wealth moves from one spouse to the survivor and then to the kids,” said Scott Rahn, attorney and founding partner at RMO LLP. “But now, things are complicated with blended families and non-traditional families.”