Parents and their children not always of the same mind on the total amount of inheritance.
Research points out that children expecting an inheritance are unrealistic on the amount, according to The Independent in “The truth about your inheritance.”
The report reveals that the younger generation has a vision of their inheritance changing their lives by paying off bills, buying a new home, vacations and retirement. However, if you speak with the parents, those expectations are not only off the mark but almost always too high.
The article has some alarming statistics that are specific to the U.K., but the same general idea applies in the U.S. Older Americans do not expect to leave their children as much as the children think.
There are several reasons for this. The parents may not have as much money as the children think. They may prefer to spend the money on their own things rather than leave it for their children.