Blogpicture-cashgiftIn the survey, conducted by Interest.com, a financial planning site, just 27
percent of respondents age 18 to 59 said they expect to receive an inheritance
from their parents or other family. Even those who believe there will be
something left over for them aren't expecting a huge windfall.

Did the recession ruin the
chances of inheritance for the masses? According to a recent survey, it turns
out that neither those planning for their estates nor the would-be inheritors
themselves are quite sure, or even on the same page.

CNBC recently explored this issue in an article titled “After
recession, few Americans expect to inherit money
” and the underlying
survey conducted by Interest.com.

There seems to be confusion
among the ranks of would-be estate settlors and would-be inheritors regarding
whether there will be any inheritance and in what amount. Interestingly, the
experts disagree with both assessments.

According to the results of the
survey, only 27 percent of respondents age 18 to 59 said they expect to receive
an inheritance from their parents or other family, with most of them offering
low-ball estimates in their best-case scenarios.

In reality, we are about to see
the greatest wealth transfer in recent history, with baby boomers finally
putting their plans to action and transferring their wealth to the next
generation.

Naturally, some baby-boomers are
a bit optimistic. Perhaps this is because they have been planning for so long
and medical costs have only recently risen so dramatically. Nevertheless, to
leave an inheritance they will need to ensure this money survives their medical
bills.

In short, whether you are
planning to leave an inheritance or will be receiving one, the amount and
method of inheritance are worth understanding and planning.

Either way, this may be a topic
worth bringing out into the open for family discussion to everyone’s benefit.
There is something to be said for realistic expectations.

For more information and articles on
estate planning and elder law topics, please visit our website
and sign up for our free monthly e-newsletter.  You can also friend
our law practice's Facebook page (R Christine Brown).

Reference: CNBC
(September 17, 2013) “After recession, few Americans expect to
inherit money