A historic shift in generational wealth is unfolding in the Middle East, with $1 trillion (AED 3.67 trillion) expected to transfer to heirs by 2030, according to a whitepaper launched by the DIFC Innovation Hub, Julius Baer, and Euroclear. The report, titled “Navigating the Future of Inheritance”, highlights how advanced digital technologies like Artificial Intelligence, Blockchain, and Smart Contracts can simplify the complex process of asset transfer, ensuring greater transparency and efficiency.

The study addresses the challenges families face in inheritance planning, particularly in the UAE, where High Net Worth Individuals (HNWIs) have seen their assets grow by 20% since 2022, reaching a total of $700 billion. However, only 24% of these individuals have a comprehensive estate plan in place. Over half of families (53%) surveyed find planning for wealth distribution too complicated and time-consuming.

Mohammad Alblooshi, CEO of DIFC Innovation Hub, emphasized the importance of leveraging emerging technologies to streamline wealth transfer. Speaking to Emirates 24/7, he said the Middle East is at a critical juncture where growing digital asset portfolios and diverse investments demand innovative approaches to inheritance.

Julius Baer’s CEO for the Middle East, Alireza Valizadeh, noted that blockchain and tokenization could transform the wealth transfer process, offering secure and transparent solutions to meet the needs of today’s families. Euroclear’s Global Head of Product Strategy, Isabelle Delorme, highlighted the collaborative effort to address regional challenges and create future-ready frameworks for inheritance.

To support families in navigating these complexities, DIFC has also released a series of guides through its Family Wealth Centre. These include resources on trusts, foundations, and legacy planning, available in multiple languages, including Arabic and Mandarin.

As the region prepares for this monumental wealth shift, the report underscores the need for collaboration among wealth managers, regulators, and service providers to establish robust platforms that will shape the future of inheritance planning.