Quote:
Originally Posted by Bongo
My parents are quite well off. They have made it very clear, many times, that I receive no inheritance and all assets will be donated to multiple charities of their choosing. Why would I give you a bunch of money when we kick the bucket, you're more than capable of making your own money.
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I doubt that attitude is very widespread. Especially if there are grandchildren involved. The average Canadian today inherits $100k, usually in the form of a share of a family home. That number is going to go higher as the wealthiest generation to ever walk the planet starts to die off.
Canada will likely revert to the way families were 100+ years ago, and still are in most of the world: an intergenerational economic unit where much of a person's property and wealth will come through inheritance. One of the reasons the property market has far outpaced incomes is because young adults in Canada often have access to family capital. Not many young couples can afford a $500k mortgage. The bank of mom and dad bridges the gap.