Baby boomers could get about $12 trillion from parents and other relatives in coming years, according to researchers at the Center for Retirement Research at Boston College.
The Great Recession may have raised questions in some minds about whether there will be anything left for the boomers to inherit, but the retirement center researchers say an analysis of a triennial survey of consumer finances shows that boomers still expect to get a total of about $8.4 trillion from parents and other older relatives after those older relatives die and to get $3.2 trillion in transfers while the older relatives are still alive.
Boomers expect to get a median inheritance of $64,000 when parents and other older relatives die.
Boomers already have received $2.4 trillion through estate plans, the researchers say.
The researchers’ work was sponsored by the MetLife Mature Market Institute, an affiliate of MetLife Inc., New York (NYSE:MET).
- Warren S. Hersch
CORRECTION: An earlier version of this article described the authors of the inheritance analysis. The authors are researchers at the Center for Retirement Research.