Inheritance Statistics US - Trends, and Impact of Wealth Transfer

Introduction

The home of intergenerational transfers is changing rapidly. More than $80 trillion is expected to move from older Americans to their heirs over coming decades — a transfer that will influence household security, entrepreneurship, education, retirement outcomes and social mobility.

Below we unpack the numbers behind inheritances: who receives them, how much is transferred, how that varies by race, gender and income, and the rising risks of “negative inheritance” where debts and care costs outstrip assets.

At-a-Glance Inheritance Snapshot

Quick reference of the most commonly cited figures from national surveys and industry analysis.

Metric	Value
Median inheritance	Just over $60,000
Share of household wealth that's inherited	~20%–50%
Households receiving an inheritance	~30%–40%
Average inheritance (range)	~$70,000 to ~$707,000
Share of millionaires who inherited wealth	~21%
Typical bequest from parents/grandparents	~$46,200

Wealth Inheritance Statistics in 2023

America’s inheritance story is driven by demographics and decades of asset appreciation. Silent Generation households benefited from post-war growth and passed assets to Boomers, who now hold a very large share of national wealth. As Boomers enter peak transfer years, intergenerational flows accelerate.

Demographic Breakdown: Inheritance among Ethnic Groups

Inheritance flows are uneven across racial and ethnic groups due to long-term disparities in asset accumulation and access to estate planning.

Receipt Rates (any gift or inheritance)

Group	Receipt Rate
White families	29.9%
Black families	10.1%
Hispanic families	7.2%
Other families	17.8%

Average Household Inheritance (illustrative)

Group	Average Inheritance
White households	$88,500
African American households	$85,800
Hispanic households	$52,200
Other racial groups combined	$59,400

Average Life Expectancy (illustrative)

Group	Life Expectancy
Asian Americans	83.5 years
Hispanic Americans	77.7 years
White Americans	76.4 years
African Americans	70.8 years

Differences in longevity influence timing and value of transfers — and the period heirs have to grow or pass on inherited wealth. Source references include SCF and other national analyses.

Social Breakdown: Inheritance by Income, Education & Gender

Inheritance tracks strongly with income and education: households with greater income and higher educational attainment typically receive larger transfers. This compounds existing wealth gaps.

• Income: Higher-income families are both more likely to leave inheritances and to leave larger ones.
• Education: Households with college-educated parents typically inherit more (estimates often cite ~$17,000 higher on average).

Gender dynamics

Women tend to live longer and therefore inherit from spouses; however, they report receiving inheritances less often in some surveys: estimates show ~29% of women vs. ~47% of men reporting inheritance receipt in certain datasets. Women also hold less retirement savings on average, increasing the significance of forthcoming transfers.

The distribution is top-heavy: the top 1% of earners receive average inheritances near $719,000, while the bottom 50% receive average inheritances around $9,700.

Negative Inheritance & Care Costs

“Negative inheritance” refers to situations where debts, care costs and other liabilities exceed estate assets — an increasing risk given rising long-term care and medical expenses.

Conclusion & Key Takeaways

Understanding inheritance patterns matters: who inherits, how much, and when drives opportunity and long-term inequality. As Boomers transfer wealth, planning and policy choices will shape whether transfers widen or narrow wealth gaps.

Key Fact	Figure
Share of household wealth that’s inherited	~20%–50%
Households that receive an inheritance	~30%–40%
Median inheritance	Just over $60,000
Average inheritance (reported ranges)	~$70,000–$707,000
Share of millionaires who inherited wealth	~21%

With Boomers in peak transfer years, families and policymakers should prioritize clear estate planning, consider care cost risks, and evaluate how transfers can be structured to promote intergenerational mobility rather than entrench inequality.