HNW women face hurdles in great wealth transfer, report suggests

As an estimated $105 trillion is poised to change hands by 2045, new research from UBS highlights how wealthy women and the next generation of heirs face significant emotional and logistical challenges in navigating the transfer of wealth.

In its 2025 Own Your Worth report, “Heir dynamics: Money in motion,” UBS surveyed 2,000 women with at least $1 million in investable assets.

The findings reveal a consistent lack of communication, preparation, and planning among both women who have inherited wealth and those expecting to do so – issues that may complicate one of the largest intergenerational wealth transfers in US history.

According to the study, nearly one-third of women who inherited assets from their parents reported having no prior conversations about the transfer. Four in 10 said there was no estate or wealth transfer plan in place when they inherited, and 80 percent faced at least one major challenge during the process. Financial surprises were common: some were unprepared for tax liabilities, others experienced delays or tension with family members.

“As women control more wealth than ever before, many are navigating the pivotal transition of inheriting significant amounts of money with limited information and minimal communication,” Carey Shuffman, head of US women’s wealth at UBS, said in a statement. “This ambiguity can make an already emotional moment even more challenging.”

The situation was similar for widowed women, who often took sole control of household wealth following the death of a spouse. The majority reported difficulties due to lack of planning and transparency. One in four said they did not know where all their partner’s assets were located before the death, and 83 percent overall faced complications in managing the transfer.

While many women expect to inherit substantial wealth – 41 percent anticipate between $1 million and $5 million, and 25 percent expect $5 million or more – most say they do not feel ready. Three-quarters of women expecting an inheritance foresee difficulties, and 43 percent admitted they have not reviewed their parents’ wills.

“A lack of communication around inheritance planning creates confusion, stress and uncertainty at a time when clarity is most needed,” said Mike Camacho, head of US wealth management at UBS. “By encouraging families to have proactive, transparent conversations, enabling them to navigate this process with greater confidence and support, we can help ensure that women are equipped not only to manage the wealth they receive, but to build and preserve it.”

A previous 2024 research study by Edward Jones emphasized a similar theme, revealing that even as nearly half of surveyed Americans plan to leave a financial legacy, more than a third said they have no plans to discuss those plans with their family members.

In the UBS research, women who have been through the process offered clear advice: 90 percent emphasized the importance of knowing the size and structure of the inheritance ahead of time, while 87 percent stressed planning for taxes. Nearly four in five said open discussions with family members are critical.

As part of its guidance, UBS encourages clients to involve trusted advisors, initiate wealth transfer discussions early, and become familiar with the financial and legal complexities surrounding inheritance.