Many children of the super-wealthy shouldn’t be counting on getting an inheritance. In a nationwide survey of 457 adults with at least $3 million in investable assets, U.S. Trust found that only 49 percent said that “leaving a financial inheritance is personally important.”
In contrast, when asked how they wanted to use their wealth, the two most frequently cited goals were financial security, 90 percent, and financial freedom, 78 percent.
Even the desire to travel, which was cited by 64 percent, edged out leaving money to heirs.
The survey was conducted in January and February, and the investable assets don’t include their primary residence.
It was the first time that U.S. Trust, an arm of Bank of America, posed the question, a spokeswoman said.
byerak@tribune.com
