The UBS Billionaire Ambitions Report 2023 emphasizes that over the next two to three decades, more than 1,000 billionaires will transfer an extraordinary USD $5.2 trillion to their heirs and stresses the critical need for inheritance planning.
While it sounds easy in practice to maintain wealth once it has been created, studies have shown that about 70% of wealthy families lose it all by the second generation, and 90% lose it by the third.