According to theSurvey of Consumer Finances, the average inheritance received by American households is roughly $46,000.
However, the average inheritance varies greatly byincomeandrace.
Many experts agree that even people of modest means should have a will.
We explored how the findings vary by factors such as income, race/ethnicity, and parental use of wills.
Most adults expect to leave an inheritance even though many currently lack a will.
Many have not designated beneficiaries for all of their financial accounts.
Besides having a will, another way to pass down wealth is to designate beneficiaries for your financial accounts.
A home is an important asset that the majority of adults 50-plus have, regardless of race/ethnicity.
Employers and community organizations may be useful channels for delivering education and low-cost services.
Interviews were completed in English and Spanish.
Interviews were conducted online and via phone.
All data are weighted by age, sex, education, race/ethnicity, region, and AARP membership.
For more information, contact S. Kathi Brown of AARP Research atskbrown@aarp.org.
Media inquiries should be directed tomedia@aarp.org.
MORE FROM AARP
Does Saving for Emergencies Improve Productivity at Work?
