Edward Jones’ survey also asked about intentions for passing on an inheritance.

It found that 54 per cent of respondents want to share their wealth before they die, citing ensuring distribution without conflict (34 per cent) and giving a friend or family member immediate financial help (27 per cent). However, last year 65 per cent wanted to pass on an inheritance before they’re gone. The significant drop is likely due to inflation concerns with 45 per cent saying that sharing their wealth while they are living may risk their future finances. Others are holding back from giving while they’re living because of tax implications (19 per cent), because there is no immediate need (18 per cent), or because they don’t think their recipients deserve it!