Counting On Your Parents' Money? Don't Bank On It! - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Just because your parents are rich doesn't mean they're passing their money down to you.  In fact, many people give their millions to charity instead. According to a new survey from U.S. Trust, 32-percent of ultra-rich Americans don't think it's important to leave inheritances for their children. And with baby boomers-- that percentage jumps to 45. 

The study looks at people worth at least 3-million dollars. The main reason kids are getting left out-- most parents think each generation should earn its own wealth. Others say they would rather give the money to charity. But not everyone is so altruistic. One in four say they've earned the money-- and they're going to enjoy it themselves. 

The idea of not passing riches on to the next generation is a growing trend.  Billionaires like Bill Gates and Warren Buffett have been vocal about this. They plan to donate most of their fortunes to charity-- and they started the giving pledge to encourage other billionaires to do the same. So far, more than 80 ultra-wealthy Americans have signed on-- including Facebook's Mark Zuckerberg and New York City mayor Michael Bloomberg. 

(Source: CNN)