Wealthy parents keep heirs in the dark to protect their drive, Fortune reports | Wealth Office
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Wealthy parents keep heirs in the dark to protect their drive, Fortune reports

Bank of America research finds many ultra-wealthy families worry about their children's motivation, and over a third do not disclose the full scale of family wealth.

Fortune reports that many ultra-wealthy parents are holding back details of their fortunes from their children for fear that wealth will dull the next generation's ambition. Drawing on a Bank of America study of people with more than $25 million in investable assets, Fortune says 61% are concerned about their children's motivation. In response, 51% support their children's business ventures, 41% add provisions to trusts and 36% do not disclose the full amount of family wealth. Only 36% say their heirs are very prepared to inherit. A 2025 Fidelity study cited by Fortune found 68% of parents aged 55 and over had not told their children what, or how much, they would inherit.

The Bank of America research also finds that 78% of wealthy business owners consider succession planning important, but only 20% have a fully documented plan. Advisers quoted by Fortune argue that unprepared heirs are usually a sign of missing preparation rather than a fixed trait, and that families should discuss estate plans, property and philanthropy together.

Why it matters: Secrecy may feel protective, but it often leaves heirs to discover the scale of their inheritance at the most difficult moment, without the skills or relationships to manage it. The gap between intention and documented succession plans is stark. Families that treat preparation of the next generation as seriously as the transfer itself are more likely to preserve both wealth and family harmony.

Source: Fortune, October 25, 2026. Wealth Office summarises reporting by other publications and links to the original.