As I was digging into the generational wealth issue, I came across a research paper: Inheritances and the Distribution of Wealth Or Whatever Happened to the Great Inheritance Boom?
Details in the paper estimated that of the total wealth of the population, only 35 percent of wealth originated from inheritances or gifts.
Among those who had reported receiving an intergenerational transfer (who were about two and a half times richer than the average household), the corresponding proportion was 40 percent.
As I deal with aging clients and their children, I know that there are funds that will be transferred from one generation to another. As I had after my mother died and my wife will after her mother passes.
Once it passes it becomes a matter of saving it to increase it or to send it and no longer have it. Remember a boat or car is a depreciating assets and not an investment.