Trusted, Not Verified: Two-Thirds of Mass Affluent Are Building Plans Around Inheritances They've Never Confirmed

Most mass affluent Americans who expect an inheritance have never actually confirmed one is coming — yet nearly two-thirds (64%) say an anticipated windfall is actively reshaping their financial decisions, and more than a third (36%) have already saved or invested at least $100,000 less because of it, according to Key Wealth's 2026 Inheritance Pulse Poll, released today.

Key Wealth, the wealth management business of KeyCorp (NYSE: KEY), found that just 34% of Mass Affluent Inheritors formed their expectations through a direct family conversation with specific figures, timing, or conditions, with the rest operating largely on assumption. Among those who have never broached the subject with family, half (50%) say it is because they do not want to appear to be counting on the money.

With an estimated $124 trillion expected to change hands worldwide over the next two decades, the gap between expectation and reality carries real planning consequences.

The Cost of Counting on an Inheritance

Unverified expectations are translating into measurable changes in financial behavior. Among Mass Affluent Inheritors whose decisions have been shaped by inheritance expectations, many are saving less for retirement (40%), taking more investment risk (36%) and spending more freely on lifestyle or travel (18%). The impact is subst...