However, expectations may not align with reality. Among respondents, 57 percent of those under 35 either expect or have received an inheritance, yet 39 percent do not consider passing on their own assets a priority.
Despite 49 percent of respondents acknowledging the importance of inheritance for their children’s financial future, 31 percent do not plan to or are unsure about leaving an inheritance.
This disconnect reflects the pressures both generations face from inflation and rising living costs, according to Mario Cianfarani, head of Sales and Distribution at Vanguard Investment Canada Inc.
Cianfarani stated that these factors make wealth transfer conversations challenging, but involving financial advisors could help align expectations.
Older investors, particularly those over 55, face additional hurdles. 35 percent express concerns about needing their assets later in life for healthcare, prolonged retirement, or other costs.