82% of adult children in the US don’t know if they’re in a will — and many are planning for cash that might never come Vawn Himmelsbach Sat, November 14, 2026 at 7:45 AM EST 9 min read GC=F +0.03% Photo by View Apart / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
If you're counting on an inheritance from your parents to buy a house or fund your own retirement, you might want to ask your parents if you're actually getting one.
A survey by Ethos, an online insurance platform, found that 82% of adult children in the U.S. who expect an inheritance have never confirmed this with their family (1). For Gen Z heirs, the percentage is even higher: 90% have never confirmed their expected inheritance.
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Surprisingly, 58% of heirs are building a long-term plan around their unverified windfall.
In fact, a little over 7 out of 10 (71%) future inheritors are counting on it to achieve at least one of their financial goals, such as building their own retirement savings (37%), buying a home (21%) and paying off debt or student loans (17%).
About a quarter (24%) are depending on their inheritance to help cover everyday living expenses.
But how do the parents feel? When asked, only about 1 in 4 of parents (23%) said that preserving an inheritance matters most to them in later life. Instead, 84% said they would use their savings "for retirement or care before protecting an inheritance."
In short: Your inheritance might not be a sure thing. And if you're relying on an unverified inheritance, it may be time to sit down and have a conversation with your family.
The Ethos study shows that many adult children are expecting — or possibly relying on — an inheritance to meet life's major milestones, while their parents may have very different ideas about how they want to spend their money in retirement.
This is why a lot of families could benefit from an inheritance discussion. After all, there are a lot of questions to answer: Are the parents leaving their children $50,000 or $500,000? Does one child inherit the house, while the other inherits different assets?
Answering these questions ahead of time can save a lot of drama — and potential legal costs — later on.
Plus, even if parents are planning to leave a significant inheritance, they could run into unforeseen complications: If a parent becomes ill or incapacitated and requires long-term care, that could eat into their nest egg and any planned inheritance.
Considering that the median annual cost of a private room in a nursing home is $129,575 (2), it could deplete their savings faster than they'd expect. It's also worth noting that specialized care, such as memory care for dementia or Alzheimer's disease, could come with a surcharge (3).
While these conversations can be uncomfortable in families where talking about money is taboo, it might be better to have the conversation before it's forced on you. You may even want to consider bringing in a third party, such as a financial advisor or estate lawyer, who can take some of the emotion out of it and provide a neutral perspective.
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If you're expecting an inheritance and haven't talked to your family about inheritance expectations, you may want to avoid making major life decisions based on assumptions about the future. For example, you might be delaying milestones such as buying a house because you're waiting for what you think is a windfall.
In fact, the Ethos survey found that almost 1 in 4 heirs (23%) have already changed at least one financial decision based on their expectation of a future inheritance.
Even if you've confirmed that you're getting a significant inheritance, you still might not want to put all your eggs in one financial basket. After all, your parents may end up needing that money for medical expenses — or maybe they decide to go on that around-the-world trip they always dreamed of.
But with rising costs of living and stubborn inflation, meeting major milestones on your own may seem out of reach without some support from the Bank of Mom and Dad.
If you're having a tough time getting your financial footing, there are several apps that can help you start saving and investing. One such app is Acorns, which automatically invests your spare change for you.
Here's how it works: All you have to do is sign up and link your debit or credit cards and Acorns will round up each purchase you make to the nearest dollar, investing the difference into a diversified portfolio managed by experts at leading firms like BlackRock and Vanguard.
That morning coffee for $3.25? It's now a 75-cent investment in your future. Then, once you're comfortable with Acorns rounding up your purchases, you can supercharge your savings with recurring monthly deposits into your favorite funds.
Plus, if you sign up today with a $5 recurring deposit, Acorns will add a $20 bonus to help you begin your investment journey.
If you're a parent planning to leave an inheritance to your children, you might want to choose a neutral time and place to discuss their inheritance. Aside from a family meeting, you could have additional one-on-one discussions — especially if you're not splitting the inheritance evenly (and you might want to provide your reasoning behind this decision).
You could also collect all relevant documents, such as wills, trusts, asset lists and insurance policies, to ensure each family member understands their role after the death of one or both parents, including powers of attorney and medical directives.
Don't have a will or estate plan yet? You're not alone.
In 2025, only 24% of American adults reported having a will (4), according to Caring's 2025 Wills and Estate Planning Study. However, without one, you could be leaving it to the state to determine how your assets are divided during the probate process.
Another problem? Those who do have a will don't update it. The Caring study found that 1 in 4 Americans who have a will hadn't touched it since they first created it.
When it comes to estate planning, surprises aren't typically a good thing.
That's why it's always a good idea to have ongoing discussions with loved ones to account for changing circumstances (and updates to a will). Similarly, while it's important for adult children to take responsibility for their own finances, they might want to prepare themselves so that they're not blindsided by their inheritance (or lack thereof).
Although most adult children know an inheritance may not be a sure thing, 44% of respondents in the Ethos survey said they'd "need to change their long-term finances if the money never came" by making changes like saving and investing more aggressively (33%) and cutting back on everyday spending (24%).
As they navigate taking tighter control of their finances, budgeting apps could also help.
Monarch Money, for example, puts all your finances under one roof, from your banking statements to your investments. You can even add separate or joint accounts to your dashboard, which can be great for tracking grocery runs for couples or helping your child get used to big-picture financial planning.
The best part? Monarch Money offers a seven-day free trial so you can see if it's right for you. If you like what you see, you could then snag 50% off your first year with code WISE50.
Finally, if you've had the inheritance conversation with your parents and know you'll inherit a large amount of money, you may want to seek advice from a financial advisor who can help you integrate that money into your existing financial plan.
To take an example, if you've already maxed out your 401(k) and IRA, you might need to explore other options for your windfall to avoid a heavy tax burden.
A deferred annuity through Ethos can provide tax-deferred growth outside your traditional retirement accounts. That way, you don't pay taxes on the money as it grows until you withdraw it, subject to applicable tax rules.
There are different types of deferred annuities to consider. A multi-year guaranteed annuity (MYGA) can provide a fixed rate over a set term, while a fixed index annuity (FIA) can offer the opportunity for interest based on a market index, with current annual cap rates ranging from 8% to 12% on S&P 500 Index Accounts, depending on the carrier and contract terms and a 0% guaranteed floor.*
When you're ready to retire, you can grow tax-deferred savings to use as retirement income and, for those 59 and older, get lifetime guaranteed income, backed by the issuing insurer's claims-paying ability and subject to annuitization, rider elections and contract terms including surrender charges.
If you're considering a MYGA, you can book a free consultation with a licensed Ethos insurance agent to explore your options. No purchase is required.
*Not available for residents of New York.
Regardless of the amount being passed from one generation to the next, having the inheritance discussion — although uncomfortable — could be in every family member's best interest. And the best time to get started is now.
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Ethos (1); Carescout (2); AARP (3); Caring.com (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.