The Great Wealth Transfer is coming. Some generations are banking on it. [View all]

Americans are on the cusp of what some estate-planning experts are calling the Great Wealth Transfer. But while more adults now compared to years past claim they are preparing to leave a financial legacy, the share who expect to receive one has decreased.

That’s according to research from Northwestern Mutual’s 2025 Planning and Progress Study, which found 31% of U.S. adults anticipate leaving a financial gift — up from 26% in 2024 — but only 20% of individuals expect to receive an inheritance, a decrease from the 25% reported last year.

"As people age, they become more comfortable with their wealth or the amount of money they have and how they’ll be able to live life in retirement," said Keith Wagner, founder of Dallas-based Perpetuum Advisors and a Northwestern Mutual adviser. "But I think millennials are also encouraging their parents to go and do things, take a certain trip, have experiences that would be fulfilling to them, and are expecting money a little bit less."

Among survey respondents, 20% are classified as high-net-worth individuals.

https://www.bizjournals.com/seattle/news/2025/07/28/inheriting-wealth-cited-as-critical-for-69-of-m.html

Just what we need, more Donald Trumps.