If you’re biding your time until Mom or Dad or that rich uncle dies, passing their wealth to you, then prepare yourself for a shock: Most of us will never inherit.&nbsp;

Inheriting money from a departed loved one is a gateway to wealth for millions of Americans, especially those who are older, white, college-educated or wealthy already, according to numerous studies.&nbsp;

But less than half of Americans inherit anything.&nbsp;

“Most households will pass on little or no inheritance to the next generation,” said , director of the Program on Inequality and the Common Good at the progressive Institute for Policy Studies, or IPS.&nbsp;&nbsp;

Only about 30% of older Americans, ages 47 to 70, have received an inheritance or other intergenerational wealth transfer, according to a  by the Federal Reserve Bank of Richmond.&nbsp;&nbsp;

If you look at younger adults, the share who have inherited dips well below 20%. By age 75, nearly two-fifths of Americans have reaped an inheritance, according to a  from the Washington Post.&nbsp;&nbsp;

“That means the typical family is not leaving an inheritance,” said , a senior fellow at the Urban Institute.&nbsp;&nbsp;



This age range is the sweet spot for inheritance
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You’re most likely to inherit between the ages of 56 and 65, according to a  by the Wharton School of the University of Pennsylvania. Americans ages 46 to 55 are next most likely to inherit.&nbsp;

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Most Americans hope to leave an inheritance
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America's inheritance story comes with a sad twist: Most people really do want to leave something behind.

Roughly three-fifths of Americans hope to pass a sizable estate to their heirs, either definitely or "possibly," the Urban Institute reported in a . Those expectations are roughly the same for white and Black families.

Yet, for many families, life gets in the way. Some households don't adequately plan to leave a significant estate, researchers said. Others spend their assets paying for long-term care. Many families never achieve homeownership, a key step in building wealth.

"You can't pass the wealth off if you don't have the wealth in the first place," Neal said.



Inheritance makes wealthy Americans wealthier
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Though it might sound unfair, Americans who have high incomes tend to inherit a lot more money than those with low incomes.&nbsp;

The median inheritance across all incomes is $12,353, in 2019 dollars, Wharton researchers found. For households with incomes in the top 5%, the sum rises to $51,499.&nbsp;

If you inherit a really large bundle of cash, you’re more likely than ever to be allowed to keep it, thanks in part to President Donald Trump.&nbsp;

As recently as 2008, estate taxes applied to estates as small as $2 million, according to the . By 2017, the estate tax threshold had risen to about $5.5 million. Trump’s 2017 Tax Cuts and Jobs Act doubled the nontaxable limit to $11.2 million. In 2025, the threshold stands .

As a result, fewer wealthy Americans pay estate taxes. The number of returns subject to estate taxes dropped from 15,100 in 2008 to 4,000 in 2023, according to the nonpartisan .&nbsp;

That trend “will only accelerate existing wealth disparities,” said Collins of IPS, “including the racial wealth divide.”&nbsp;

Wealth transfers go to about 22% of older Americans who have only a high school degree. The share rises to 39% for college graduates, according to the Richmond Fed.&nbsp;

Most Americans hope to leave an inheritance
--------------------------------------------

America's inheritance story comes with a sad twist: Most people really do want to leave something behind.

Roughly three-fifths of Americans hope to pass a sizable estate to their heirs, either definitely or "possibly," the Urban Institute reported in a . Those expectations are roughly the same for white and Black families.

Yet, for many families, life gets in the way. Some households don't adequately plan to leave a significant estate, researchers said. Others spend their assets paying for long-term care. Many families never achieve homeownership, a key step in building wealth.

"You can't pass the wealth off if you don't have the wealth in the first place," Neal said.



Inheritance makes wealthy Americans wealthier
-----------------------------------------------

Though it might sound unfair, Americans who have high incomes tend to inherit a lot more money than those with low incomes.&nbsp;

The median inheritance across all incomes is $12,353, in 2019 dollars, Wharton researchers found. For households with incomes in the top 5%, the sum rises to $51,499.&nbsp;

If you inherit a really large bundle of cash, you’re more likely than ever to be allowed to keep it, thanks in part to President Donald Trump.&nbsp;

As recently as 2008, estate taxes applied to estates as small as $2 million, according to the . By 2017, the estate tax threshold had risen to about $5.5 million. Trump’s 2017 Tax Cuts and Jobs Act doubled the nontaxable limit to $11.2 million. In 2025, the threshold stands .

As a result, fewer wealthy Americans pay estate taxes. The number of returns subject to estate taxes dropped from 15,100 in 2008 to 4,000 in 2023, according to the nonpartisan .&nbsp;

That trend “will only accelerate existing wealth disparities,” said Collins of IPS, “including the racial wealth divide.”&nbsp;
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