For many, legacy is traditionally viewed through the lens of financial inheritance—passing down a home, property, or wealth to future generations. However, the data suggests that Americans define their legacy in increasingly personal and diverse ways. While financial assets remain a key part of estate planning, values, life lessons, and sentimental contributions are just as—if not more—important to certain demographics.
The most common response to “What will be the most meaningful thing you leave behind?” was a home or property (23%), followed closely by money or financial assets (22%). However, nearly one in five (19%) said that passing down values or life lessons that reflect who they are will be their most meaningful legacy—exceeding those who prioritized sentimental heirlooms (13%). Meanwhile, 17% of respondents said they don’t believe they’ll leave anything meaningful behind at all.
Generational Shifts: Legacy Beyond Wealth
The concept of legacy varies dramatically by generation. Older generations prioritize tangible assets, while younger generations focus more on values and social impact.
Silent Generation respondents are nearly twice as likely as Gen Z to say they will leave behind a home or property (28% vs. 14%). This trend steadily declines across generations, suggesting that younger people may see homeownership as less attainable or less central to their legacy.
Similarly, older generations are also more likely to expect to leave behind larger inheritances—with 28% of the Silent Generation and 24% of Baby Boomers expecting to leave between $100,000 and $500,000. In contrast, only 16% of Millennials and Gen Z anticipate leaving this amount.
Meanwhile, Gen Z is 50% more likely than the Silent Generation to say that passing down values or life lessons will be their most meaningful legacy (22% vs. 15%). However, younger generations are also redefining wealth transfer, with Millennials being the most likely generation (3%) to believe they will leave behind $5M or more—suggesting that while fewer Millennials expect to pass down large inheritances, some anticipate accumulating substantial wealth.
Gen Z is also nearly three times more likely than older generations to prioritize charitable giving. While just 3% of Millennials, Gen X, Baby Boomers, and the Silent Generation cited charitable giving as their most meaningful legacy, 8% of Gen Z did—making them 189% more likely than the generational average.
These shifts indicate that younger generations are redefining what it means to leave a lasting impact. As estate planning evolves, financial wealth is no longer the sole measure of a meaningful legacy. Instead, wealth transfer is becoming a nuanced and individualized decision—one that reflects broader shifts in financial priorities, homeownership rates, and intergenerational support.
Education and Wealth: The Privilege of Planning a Legacy
Both education and household income significantly influence how people perceive their ability to leave behind something meaningful. Those with fewer financial resources or lower education levels are far more likely to believe they won’t leave anything behind, while those with greater wealth and education focus more on financial assets as their primary legacy.
Lower-income individuals are more than twice as likely as high-income individuals to say they won’t leave anything behind.
32% of those earning under $25K believe they will leave nothing, compared to just 13% of those earning over $1M.
Similarly, 40% of individuals with less than a high school diploma say they won’t leave a meaningful legacy, compared to just 10% of those with a doctorate or higher.
Money and financial assets as a legacy increase significantly with both income and education.
Only 13% of those with less than a high school diploma expect to leave behind financial wealth, while 30% of those with a doctorate do—a 131% increase.
Higher earners follow the same trend, with higher-income households significantly more likely to cite financial assets or property as their primary legacy.
These differences extend to how much inheritance people expect to leave behind. Over half of all Americans (53%) anticipate leaving behind $50,000 or less, with 15% believing they will leave nothing at all. However, as household income and education level increase, so does one’s belief in leaving behind a larger inheritance—further reinforcing the privilege of legacy-building.
Higher-income and highly-educated individuals are also more likely to define their legacy in unique and personal ways.
33% of respondents earning over $100K selected "other" when asked what they believe they will leave behind, a significantly higher rate than those in lower-income brackets.
Responses ranged from personal heirlooms and religious beliefs to pets and acts of service—highlighting that for those with financial security, legacy often extends beyond material wealth to deeply personal contributions.
This data suggests that financial stability and education shape not just one’s ability to leave behind a legacy—but also the confidence that they will do so. Those with fewer resources may struggle to envision what they will pass on, while wealthier and more educated individuals view legacy through a broader and more personal lens.
Gender and Geographic Differences in Legacy Priorities
Men and women define legacy differently, with men prioritizing financial assets and women placing greater emphasis on values.
Men are 29% more likely than women to say their most meaningful legacy will be tangible or financial assets, while women are 11% more likely to say they want to pass down values or life lessons (52% vs 41%).
This divide extends to inheritance priorities as well. Men (46%) are more likely than women (37%) to say leaving an inheritance is a core goal—a trend that aligns with their greater emphasis on financial legacy.
When looking at legacy considerations through the lens of community, urban respondents are 41% more likely than rural respondents to prioritize leaving behind money or financial assets, while rural respondents are 37% more likely than urban respondents to prioritize a home or property. This geographic divide suggests that urban respondents may place greater emphasis on liquid wealth transfer, while rural respondents view property as a key part of their legacy—possibly reflecting differences in homeownership rates, cost of living, and cultural ties to land.
Cultural Perspectives on Legacy: A Reflection of Values and Traditions
The way Americans define legacy varies across racial and cultural groups as well, revealing deeper ties to historical wealth distribution, familial expectations, and community values. While white respondents are the least likely to prioritize cultural or community contributions as a meaningful legacy, non-white respondents—particularly Native and Asian individuals—place greater emphasis on passing down traditions and charitable giving.
White respondents are 50% less likely than non-white respondents to prioritize cultural or community contributions. Just 2% of white respondents say this is the most meaningful thing they will leave behind, compared to 4% of Native, Hispanic, and Asian respondents and 6% of those who define their racial group as “other.” This suggests that non-white communities may view legacy as extending beyond individual wealth to include cultural preservation and collective identity.
Charitable giving is prioritized most by Native and Asian respondents — 7% of Native respondents and 5% of Asian respondents say they want to leave behind a charitable gift, compared to the overall average of 3%. This could reflect cultural traditions of communal support, philanthropy, or religious beliefs that emphasize giving back.
Hispanic respondents are the most likely to view homeownership as their primary legacy — 26% of Hispanic respondents cite leaving behind a home or property as the most meaningful thing they will pass on—higher than any other racial group.
This data highlights how cultural experiences and systemic wealth disparities shape the way different communities define what they leave behind. For many non-white respondents, legacy is not just about wealth accumulation—it is about family, cultural heritage, and community impact. As estate planning becomes more inclusive, acknowledging these diverse priorities will be key to ensuring that all Americans—regardless of background—feel empowered to protect what matters most to them.
Parents and Future Parents: A Legacy Rooted in Values
Parenthood dramatically shifts how people view their lasting impact, reinforcing the idea that estate planning is about more than just wealth—it is about preparing the next generation. Those with children, or those planning to have them, are significantly more likely to prioritize passing down values, while those without children struggle to see what they will leave behind at all.
Parents and future parents are 47% more likely than non-parents to say passing down values is their most meaningful legacy.
22% of parents (or those planning to have kids) prioritize values and life lessons, compared to just 15% of those without children who don’t plan on having any.
This suggests that for parents, legacy extends beyond material wealth—it is about instilling principles, traditions, and wisdom in the next generation.
Non-parents are nearly twice as likely to believe they won’t leave anything meaningful behind.
25% of those without children who never plan to have them say they expect to leave nothing behind, compared to just 13% of those with adult children and 10% of those planning to have children.
This could reflect a perception that legacy is primarily about family and inheritance, leaving those without children feeling disconnected from traditional notions of estate planning.
These findings reinforce a larger theme in estate planning: legacy is deeply personal and often shaped by life stage. While parents focus on ensuring their children are taken care of—financially and emotionally—those without children may be searching for other ways to make a lasting impact. As estate planning evolves, there is an opportunity to help non-parents see the broader possibilities of legacy—whether through charitable giving, cultural contributions, or even ensuring their pets are cared for.
These insights were unveiled in the groundbreaking 2025 Trust & Will Estate Planning Report—the largest estate planning survey ever conducted. Click here to view the full report.
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