Could inheritance disputes be coming as wealth moves to the next generation? One reason that people feel frustrated with an inheritance is when they had expectations that were not met. Current research shows that that situation is playing out for a lot of families.
For instance, in one study, 40% of parents said they would be leaving an inheritance to their children. If that’s lower than you thought it would be, you’re not alone. The children also thought it would be higher. This study focused on millennials, and it found that a full 70% assumed they would get an inheritance. That’s nearly twice the number of people who actually will, meaning there is a lot of room for disappointment.
In some cases, there will be nothing that can be done. These are just cases where children think that their parents have money that they don’t have.
But disputes could arise over the allocation of assets. Maybe money went to charity instead of the children, and those heirs are not happy about it. In other cases, heirs may simply not believe that they’re not getting anything. They may accuse an estate executor of using a fraudulent will or using undue influence to take the money that should have gone to them. That may not at all be what happened, but the heirs may not be able to see beyond their own unmet expectations.
The truth is that we could be heading for some serious complications as wealth moves on, and it is important for all involved to understand the legal options that they have.