We don’t like talking about money, and we really don’t like talking about death. Combine the two, and you get the conversation nearly every family avoids until it’s too late: inheritance. Well, we’re starting the conversation along with the professionals at LegalZoom — who, by the way, are offering 20% off estate plans through September 10, 2025.

Most of us keep the idea of estate planning tucked away in our “later problem” drawer. Later, when I own more. Later, when the kids are older. Later, when I feel like I have something worth writing down. But later has a way of sneaking up on us, and according to a new LegalZoom survey, the gap between what people think they’ll inherit and what families are actually leaving behind is bigger than most realize.

We’re not just talking about individual families, either. Economists estimate we’re at the start of the largest wealth transfer in history — as much as $84 trillion is expected to pass from Baby Boomers and the Silent Generation to their heirs by 2045. But here’s the catch: much of that money, property, and legacy is at risk of being tied up or mismanaged because estate plans aren’t in place. Every generation loses wealth this way, and unless families get proactive, the same will happen again.

The “inheritance expectation gap” and the wealth transfer aren’t just about dollars; they’re about missed conversations, mismatched expectations, and the silent stress we don’t realize we’re carrying until it’s too late to fix it. And the data is both fascinating and sobering. Put another way: we’re in the middle of the biggest intergenerational money handoff ever, and yet half the country doesn’t have even the simplest document to guide it. Without a will or trust, it’s not your intentions that decide what happens — it’s your state’s laws. That’s how legacies get eaten up by delays, disputes, and expenses.

Here’s the headline: According to the survey, 60% of younger adults (18–44) think it’s at least somewhat likely they’ll receive an inheritance. Their parents and grandparents? 77% of older Americans say they’re planning to leave something behind — and more than half of them (53%) say they’re very likely to do so.

That’s not in itself bad news. If anything, it shows good intentions on both sides. But good intentions don’t always translate to reality. Many younger Americans assume their “someday” inheritance will be modest: 24% expect less than $10,000 and another 13% think they’ll get between $10K and $25K. Very few are banking on anything substantial.

Meanwhile, older adults are far more optimistic: about 60% expect to leave more than $50,000. That’s a striking mismatch. Families are walking into this exchange of wealth with completely different ideas about what’s coming — and whether or not it will be enough.

This is where planning comes in. And not the “someday” kind of planning, but the actual kind that gets written down, signed, and stored. That’s the gap LegalZoom is trying to close: not just between expectations and reality, but between good intentions and real documents.

Younger people imagine an inheritance as simple, liquid assets such as cash, a car, maybe a few investments. In the survey, 56% said money was their primary expectation. Older Americans, though, are picturing something more complex and tangible: real estate (62%), personal items (62%), money (59%), and vehicles (55%). A house isn’t a check. A car isn’t a bond. These are assets that come with upkeep, taxes, and sometimes emotional baggage.

This is why having the right type of estate planning documents matters. A will can spell out who gets what, while a trust can help manage property and assets in a way that avoids some of the delays and expenses of probate court. Tools like healthcare directives or powers of attorney give families clarity in moments when clarity is in short supply.

LegalZoom doesn’t just hand you a generic form and wish you luck; their step-by-step process walks you through which documents fit your situation, with the option of attorney review if you want added assurance. It’s a service that acknowledges real families and the real assets they’re dealing with, not just numbers in a bank account.

Why this isn’t just about money

This study makes it clear: inheritance isn’t only about numbers. For 60% of younger Americans, receiving an inheritance would mean financial security. Not luxury, not yachts, not early retirement — just the ability to breathe a little easier. Another 46% say it would help in an emergency, 27% would use it to support their family, and 24% would finally chase a personal goal.

Older adults are just as emotionally invested. More than half believe their inheritance will significantly improve their heirs’ futures, and one in five are confident it will make a major difference. That belief — that what you leave behind will matter — is powerful. It’s also a lot of pressure, especially when the economy can feel like it is shifting under our feet.

Having real help when it comes to discerning your own situation and all its nuances seems imperative when you consider all this power and pressure. LegalZoom exists for the families who want to do right by each other but don’t know where to start. Their online tools were designed to help people turn “I’ll get around to it” into “I’ve got this covered” — and that one shift can change entire life stories.

The role of economic uncertainty

Here’s the other shadow hanging over this conversation: the economy. One in four younger people already assumes that shaky markets and inflation will eat into any inheritance they might receive. Older Americans feel it too, with over 60% saying inflation or housing costs could affect what they’re able to leave, and 20% worry it could wipe out their intentions “a great deal.”

Pair that with the uncertainty of the economy and you’ve got a recipe for lost potential. Families who should be beneficiaries of the wealth transfer risk seeing it chipped away not just by inflation, but by the lack of proactive planning. Estate documents don’t guarantee fortunes, but they do guarantee clarity — which is often the difference between a legacy preserved and a legacy squandered.

That’s not paranoia; it’s reality. Retirements get stretched thin, property values rise and fall, and healthcare bills balloon. It’s one thing to want to leave something behind; it’s another to actually be able to. And without a clear plan, even well-meant legacies can get tangled in delays, expenses, or disputes.

Clear documentation matters. You can’t control inflation, but you can control how your assets are distributed. You can make sure your wishes aren’t left up to chance.

The most sobering data point might be this: only 13% of younger people have a will. The reasons are familiar: 34% think they don’t own enough to bother, 31% say they don’t need one yet, and 17% admit they have no idea where to start.

Older adults are doing better, but not by much. Only 48% currently have a will or trust. Among the rest, nearly half say they simply “haven’t gotten around to it.” Another 12% are in the process, and 12% don’t know where to begin.

That means almost half of older Americans are hoping their intentions will somehow carry through without the paperwork. In reality, that’s a gamble families are left to sort out. It’s not that people don’t care. It’s that the process feels intimidating, expensive, or like something you can put off until tomorrow. 

LegalZoom’s entire model exists to lower that barrier, making estate planning affordable, approachable, and possible even if you think you “don’t have enough” to bother.

Even when people have plans, they’re not talking about them. 39% of younger Americans have never discussed inheritance with their families, and 12% don’t plan to, ever. Older adults aren’t much better: only 49% have had “the talk.” Nearly as many — 43% — say they’re open to it but haven’t gotten around to it. And 8% flat-out refuse to ever bring it up.

That silence is where the real damage happens. Without transparency, loved ones are left making assumptions — and, as many of us already know, grief is the worst time to be surprised.

Here’s the takeaway: planning isn’t just about protecting assets, it’s about protecting people. It’s about sparing your kids from frantic guesswork or preventing your siblings from fighting over your mom’s house.

Estate planning isn’t about being old or rich — it’s about being proactive. There’s no “right age” or “right dollar amount” to start. Even a modest plan can make the difference between your assets transferring smoothly or getting tied up in probate. 

While the idea of starting may feel overwhelming, services like LegalZoom make it approachable: bundling the essential documents — wills, trusts, healthcare directives, and powers of attorney — into straightforward, affordable packages that meet state-specific requirements.

Here’s a cursory breakdown of what some of that paperwork could be, why it’s important, and how LegalZoom helps you get it done. Of course, going straight to LegalZoom can put you in touch with a human who can help you work all of this out directly as well. Plans start at just $149, with some currently on sale for $119.

Last Will and Testament

Living Trust (Revocable Trust)

Living Will (Advance Healthcare Directive)

Power of Attorney (Financial)

Attorney Support (Premium Plans)

The final verdict

The inheritance expectation gap is real, and it’s happening against the backdrop of the greatest wealth transfer in history. Without planning, much of that wealth risks being lost, delayed, or divided by default through state laws. 

Bridging that gap doesn’t require perfection. It requires honesty, planning, and a little paperwork. And maybe this month is as good a time as any to finally start, especially with LegalZoom’s 20% off promotion (through September 10).

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