Six in 10 Adult Children Report Family Conflict Brought on by Inheritance, Wells Fargo Study Finds

Heather Hunt-Ruddy, Central Divisional leader at Wells Fargo Advisors

“When we think about wealth transfer, it's easy to focus on the numbers. But underneath most wealth-transfer conversations are really questions about whether a family will get along, what family members think they will inherit, and whether everyone is ready to receive that inheritance.”

Heather Hunt-Ruddy, Central Divisional leader at Wells Fargo Advisors

“Families find themselves in a stalemate. The next generation doesn't want to appear greedy. Parents don't want to send the wrong message. The result is that important conversations get postponed indefinitely.”

Lorne Maltenfort, national director, Private Wealth Planning at Wealth & Investment Management

“The challenge facing many families isn't a lack of planning. It's a lack of shared understanding and alignment. Documents alone don't create preparedness. Successful wealth transfer also requires context, communication, and clarity around roles and responsibilities.”

Lorne Maltenfort, national director, Private Wealth Planning at Wealth & Investment Management

“The family business findings are a powerful reminder that assumptions can take root when conversations don't happen. Many children assume they're preparing to inherit a business. Many parents have entirely different plans. Neither perspective is necessarily wrong, but surprise is not a good succession strategy.”

Heather Hunt-Ruddy, Central Divisional leader at Wells Fargo Advisors

“The next generation doesn't just want information. They want involvement. Families can benefit when advisors help create opportunities for meaningful conversations before wealth changes hands.”

Lorne Maltenfort, national director, Private Wealth Planning at Wealth & Investment Management

“Financial assets are only one part of the legacy families leave behind. Relationships, purpose, values, and opportunity are equally as important—and preserving them requires families to be clear about what they want their wealth to accomplish.”