Trusted, Not Verified: Two-Thirds of Mass Affluent Are Building Plans Around Inheritances They've Never Confirmed

A recent poll conducted by Key Wealth reveals that over a third of mass affluent Americans have saved or invested at least $100,000 less due to their expectations of receiving an inheritance. The findings, part of Key Wealth's 2026 Inheritance Pulse Poll, indicate that while nearly two-thirds of respondents (64%) are influenced by the anticipation of a financial windfall, most (66%) have not had direct conversations with family regarding any specific inheritance details.

Among those who have not discussed their inheritance with family, half (50%) avoid the subject out of concern for appearing reliant on the money. The poll highlights a potential disconnect, as an estimated $124 trillion is poised to be transferred globally over the next 20 years, underscoring the importance of addressing such expectations in financial planning.

Solomon Schmidt, Executive Vice President and Head of Mass Affluent Wealth at Key Wealth, emphasized the uncertainty of inheritances, suggesting they should be treated like bonuses that are not guaranteed. The poll also shows that individuals whose financial decisions are shaped by inheritance expectations are altering their savings behavior, with 40% saving less for retirement, 36% taking on more investment risk, and 18% spending more on lifestyle or travel.

Additionally, findings reveal that women, who are projected to experience a significant increase in assets by 2030, are less likely than men to have engaged in financial planning related to inheritance. Only 41% of women have discussed their inheritance with a financial advisor compared to 54% of men, and over half (52%) of women reported that their expectations of inheritance have not influenced their saving behaviors.

The study also points out that a considerable portion of individuals (71%) intends to leave a legacy for their children, yet 38% currently lack a formal estate plan. This absence raises the risk for heirs not only of inheriting fewer assets but also of carrying forward unverified expectations about family wealth. Furthermore, 78% of mass affluent inheritors expressed interest in advisor-led family discussions about inheritance, but fewer than half (47%) have participated in such conversations.