The late hip-hop artist the Notorious B.I.G. likely didn’t have estate planning in mind when he recorded his chart-topping hit, "Mo Money Mo Problems." But the sentiment rings undoubtedly true. The more wealth you have, the more complex the estate decisions surrounding everything from taxes to paperwork.

As an estimated $124 trillion begins to change hands, many families are now trying to figure out how to end up on the winning side of the "Great Wealth Transfer."

Someone with an estate of $5 million or more, experts say, sits in "very-high-net-worth" territory, where a simple will no longer cuts it. At this level, where you live and what you own ultimately determine what stays with your estate and how easily your heirs can inherit it.

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