One in 25 to die broke

Nearly half of us have factored an unguaranteed inheritance into our long-term financial plans, a survey by Fool.co.uk reveals. One in two (49%) says they expect to receive something to smooth their financial path when the time comes. But they are in for a surprise.

Littler legacies

Two thirds (61%) will look after themselves before they worry about leaving an inheritance
Only one in four (23%) reckon they will be able to leave the majority of their assets to the next generation. However, one in 25 (4%) don't expect to have anything to bequeath.

The most popular asset we hope to leave is the family home. Eight out of ten people (82%) believe it will comprise the main bulk of their estate. One third (33%) reveal they will leave valuable items of jewellery, works of art and antiques.

Great expectations

One in nine (11%) claim that inheriting is vital to their financial plans
Two fifths (39%) hope to inherit something, but think it is rude to say so
On average we expect an inheritance of around £99,500 when the worst happens. Nearly half of those polled (46%) hope for an inheritance of £50,000 or more, and one in 30 (3%) anticipate inheriting about £1 million.

Sooner rather than later

One in eight have already handed over their "inheritance"
One in eight (13%) have already handed over something to their beneficiaries. However, the vast majority of these (95%) have also kept something back for when fate steps in.

One third (34%) simply wished to help out those who needed the money now, and a further one in three (33%) are helping their dependents find the next rung on the property ladder. The final third (33%) simply wanted to avoid tax.

David Kuo, Head of Personal Finance at Fool.co.uk, warns that relying on the same financial certainties as previous generations could lead to disappointment.

"The world has changed significantly since Grandma divided up the cash under the mattress in her final hours. Many of us don't own our homes outright, and the idea of a job for life is dead and buried.

"However, we can no longer rely on assets being passed down the family tree. And for the many of us who are struggling to make ends meet, we will have to fend for ourselves in the here and now.

"If you spend your waking days worrying about whether your parents will leave you anything when they die, living won't be much fun for either them or for you."

"But if you plan to leave a legacy for your children, then it's vital to plan ahead. Failing to do so could mean your estate distributed to people you may not even know. A proper will should prevent this, and also stop the taxman from taking more than necessary."