Gen Z Leads Inheritance Planning at 39% as U.S. Legacy Intent Jumps to 31%
Updated
Updated · 24/7 Wall St. · May 13
Gen Z Leads Inheritance Planning at 39% as U.S. Legacy Intent Jumps to 31%
5 articles · Updated · 24/7 Wall St. · May 13
Thirty-nine percent of Gen Z adults say they plan to leave an inheritance, topping Millennials at 32%, Gen X at 26% and Boomers+ at 30% in Northwestern Mutual’s 2025 study.
That shift comes as 31% of U.S. adults now expect to leave an inheritance or charitable gift, up from 26% in 2024, with younger adults assigning unusually high importance to legacy goals.
Among those planning to leave money behind, 68% of Gen Z and 74% of Millennials call it their most important or a very important financial goal, versus 47% of Boomers+.
The study points to a mixed backdrop: consumer sentiment sat at 48.2 in May, CPI was 3.3% in March and the saving rate fell to 4.0%, even as hourly earnings rose to $37.41 and per-capita disposable income reached $68,617.
Execution still lags intent, with 61% of Gen X and 39% of Boomers+ lacking a will, underscoring that early legacy ambition does not yet amount to a formal estate plan.
As families openly discuss inheritance, how can they prevent a new generation’s entitlement and ensure children build independent financial lives?
With Gen Z using AI for estate planning, what are the hidden legal and ethical risks that current regulations completely miss?
The Great Wealth Transfer is here, but most families lose their fortune. What is the single most overlooked key to making it last?
The $60 Trillion Wealth Transfer: How Gen Z and Millennials Are Redefining Multi-Generational Legacy Planning
Overview
Family wealth planning is changing, with families now involving younger members in financial discussions and meetings with advisors. This shift is driven by a cultural move toward greater openness about finances, aiming to foster financial literacy and prepare the next generation for future responsibilities. Increased transparency helps align family values with long-term financial goals and ensures a smoother transfer of wealth. Younger generations are especially motivated to secure their families’ financial futures, making early engagement and open communication essential for successful multi-generational wealth planning in today’s economic climate.