A new global report from the Society of Trust and Estate Practitioners (STEP) says a historic transfer of wealth between generations is accelerating, while advisers face growing challenges from complex family structures, financial abuse risks and emerging technologies.
The STEP Barometer 2026 report draws on a survey of more than 500 estate planning practitioners worldwide and public opinion research among more than 6,000 adults in the United Kingdom, Singapore and Australia. The findings suggest the profession is adapting to changing client priorities, regulatory pressures and the increasing role of artificial intelligence in financial planning.
Practitioners reported widespread evidence of the so-called “Great Wealth Transfer,” the large-scale handover of assets from older generations to younger heirs with around $83 trillion in assets expected to move between generations over the next two decades, according to figures cited in the report.
About 77% of respondents said they had seen signs of this transfer in the past year, but family dynamics are complicating that process. Blended families were identified by 71% of respondents as the most common source of legal or planning challenges, with disputes often arising between stepchildren and surviving parents. Practitioners also reported growing tensions in family businesses over succession planning and differing priorities between generations.
The report highlights rising concern about financial abuse among older and vulnerable people. Nearly half of practitioners (44%) said they had encountered suspected financial abuse, with adult children cited as the most common perpetrators by 67% of respondents. Increasing dementia rates are also affecting estate planning, driving greater demand for legal tools such as powers of attorney.
At the same time, attitudes toward wealth are shifting. More than a third of advisers said they are reframing discussions with clients around values and social responsibility, reflecting increased demand for philanthropic giving and “values-driven” wealth planning rather than purely tax-focused strategies.
Technology is emerging as another key issue. The survey found 56% of practitioners are experimenting with artificial intelligence in their work, mainly for document drafting, research and administrative tasks. However, many warned about risks, including AI-generated errors in wills and the potential for deepfake identity fraud. Only 18% of respondents said existing legal frameworks are prepared for these emerging threats.
Global mobility is also reshaping wealth planning. Sixty percent of practitioners reported more internationally mobile clients, often relocating for tax, lifestyle or political reasons, creating complex cross-border planning issues for advisers.
STEP said it plans to publish further research and analysis throughout 2026 to explore the findings in greater depth.
