JDJournal Exclusive | July 2025
Trusts and estates law is undergoing a historic transformation—and the latest analysis from BCG Attorney Search confirms it’s no longer just a niche field. Fueled by demographic shifts, generational wealth transfers, and urgent estate tax planning, this once-quiet practice area is now a powerhouse of legal demand and career opportunity.
Read the full report here: The Trusts and Estates Law Boom – BCG Attorney Search
Why This Boom Matters for Lawyers and Law Firms
For attorneys seeking a stable, high-growth path and for firms looking to expand high-demand practices, trusts and estates law delivers exceptional ROI. The sector is projected to double in size—from $25.1 billion in 2024 to $49.8 billion by 2030—and a shortage of qualified legal talent is driving competition, salaries, and innovation across the board.
Key Findings from the BCG Report
1. Historic Intergenerational Wealth Transfers
Over $124 trillion is expected to shift from Baby Boomers and Gen X to younger generations in the coming decades, creating massive demand for sophisticated estate planning, tax mitigation, and asset protection strategies.
2. Skyrocketing Market Value
The trusts and estates legal services market is growing at a compound annual growth rate (CAGR) of 9.2%, nearly doubling in just six years.
3. Critical Talent Shortage
Job openings for qualified trusts and estates attorneys far outpace available talent, making it one of the most secure and lucrative legal specializations in today’s market.
4. Top Compensation Potential
- Entry-level attorneys: $75,000–$125,000
- Mid-career associates: $160,000–$300,000
-
Equity partners: $350,000–$650,000+
Regional demand further drives variation, with Florida, Texas, and California leading compensation growth.
5. Urgency Before Estate Tax Sunset
The 2026 expiration of expanded federal estate tax exemptions has created intense demand for immediate legal planning among high-net-worth clients.
Practice Growth and Regional Trends
Hot Markets for Trusts and Estates Lawyers
States with favorable tax regimes—like Florida, Texas, and Nevada—have emerged as hotspots for trusts and estates practices. The report also identifies high activity in urban financial centers such as New York City, San Francisco, and Chicago, where clients require layered strategies involving business succession, charitable planning, and asset protection.
Boutique vs. BigLaw Expansion
- Boutique firms are scaling rapidly to serve local HNW families and small businesses.
- BigLaw firms are investing in private client departments and poaching top trusts and estates talent to expand their service portfolios.
Career Implications for Legal Professionals
The BCG report outlines clear opportunities for attorneys at every stage of practice:
- Entry-Level Lawyers: A gateway into a highly specialized, client-centered field with long-term job security.
- Mid-Level Associates: Pathways to partnership, business development, and niche expertise (e.g., cross-border estates, wealth preservation).
- Lateral Candidates: High demand in nearly every major legal market, particularly those with LLMs in Tax or Estate Planning.
- Firm Leaders: A strategic window to build or acquire a T&E team before demand and salaries escalate further.
What Law Firms Should Be Doing Now
- Recruit Proactively: Don’t wait for open roles. The talent shortage means the best candidates are hired fast—often before they go on the market.
- Invest in Training: Developing junior attorneys with interest in T&E will pay dividends.
- Market Estate Services: Wealth clients are actively searching for guidance ahead of 2026’s tax exemption changes.
- Track Regional Trends: Follow demand surges in wealth migration hubs (e.g., Palm Beach, Dallas, Austin, Scottsdale).
Conclusion
Trusts and estates law is no longer an afterthought in firm strategy or law school planning. It’s a central pillar of private wealth, family business continuity, and tax efficiency in a time of historic change. The BCG Attorney Search report positions this field as a long-term, high-growth engine for attorneys and firms ready to act.
Read the full report:
👉 The Trusts and Estates Law Boom – BCG Attorney Search
FAQs
Why is there such high demand in trusts and estates law?
Massive wealth transfers, the 2026 estate tax sunset, and aging demographics have created urgent needs for estate planning and asset protection.
How much can a trusts and estates lawyer earn?
Salaries range from $75,000 to over $650,000 depending on experience, location, and firm size.
Which regions are seeing the fastest growth?
Florida, Texas, Nevada, California, and New York are among the top markets due to favorable tax laws and client demographics.
Are firms hiring in this space?
Yes—there’s a significant shortage of qualified T&E attorneys. Firms are hiring aggressively to meet demand.
Is this field a good fit for new law grads?
Absolutely. It’s a stable, client-centric area with clear growth paths and the opportunity to build lasting relationships.
