Should you tell your kids how much they’ll inherit?

investmentnews.com:

To tell or not to tell, that is the question facing parents with regard to the amount of their kids’ inheritance.

The Great Wealth Transfer is now underway, with 15% of American adults expecting to receive an inheritance in the next decade, according to the latest findings from the New York Life Wealth Watch survey. The study shows that adults expecting an inheritance anticipate receiving an average of $738,724.23.

That’s not too shabby a sum. But only if they can keep it, of course.

Unfortunately, the survey also shows that only 42% of adults who expect to receive an inheritance feel very comfortable financially handling the new wealth that will be passed down.

They are, however, feeling the impacts of inflation, as 58% of adults expecting an inheritance say inflation will have a medium-to-large impact on the sum.

“We are still in a turbulent economic environment. Inflation and higher interest rates continue to make credit card debt a challenge, compounded by unexpected expenses and a lack of emergency savings. Even those who are set to receive an inheritance in the next 10 years do not feel entirely confident managing it,” Suzanne Schmitt, head of financial wellness at New York Life, said in a statement.

Among those who anticipate receiving an inheritance, 71% say it will be from their parents or guardians, followed by a spouse (21%), the study said. As for what they will be receiving, 58% expect cash, 43% expect property like a house, 28% expect investments such as stocks and bonds, 24% expect proceeds from a life insurance policy, 21% expect jewelry or other family heirlooms, and 14% expect to inherit an annuity.

As for what they intend to do with their newfound wealth, the top uses are paying off debt (37%),