Almost two-thirds of Australians expect to leave an inheritance, with approximately $175 billion annually set to be transferred from those over 60 to younger generations over the next couple of decades. Children are the primary beneficiaries, with two in three people planning to leave assets to their kids, though this trend is expected to exacerbate wealth inequality between those who receive inheritances and those who don't. Financial experts recommend paying off high-interest debt first, investing wisely, and having updated wills with professional legal advice to avoid family disputes.

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