The findings from a study of 2,000 adults by Skipton Building Society show that while 75% of people aged 20 to 35 hope to receive a windfall when their parents pass away, the likelihood of them doing so is far lower.

The report suggests that the average person assumes they’ll get in the region of £78,000 when mum and dad pass on, with a fifth of children over the age of 20 hoping that their parents’ wealth will sort out all of their money problems.

However, nearly half of parents over 50 have already been forced to dip into their savings to cope with the current financial pressures of high inflation, stagnating incomes and low interest rates.

Four in 10 parents have already given hand-outs to their children to help them with college fees, driving lessons and rent payments.

Stacey Stothard of Skipton Building Society, said: “Despite the ongoing economic conditions, it really is a high risk strategy for people to be resting their financial hopes on estimating their parents’ wealth – and then assuming it will all be coming their way.

“The sad reality is when times are tough financially for them, they’re also tough for their parents, so it comes as little surprise that many have had to dip in to chunks of their savings to get by.

“What’s more, many parents who can see their children struggling financially are increasingly sharing their money with their children while they’re alive and well. It goes without saying that this will impact on any inheritance later on.

“The knock on effect could see children sleepwalking into a financial nightmare, basing their financial plans on something they actually might never receive.”

The study shows that 68% of kids expect to inherit their parent’s house when they pass away, while 32% think they’ll get the car.

67% are convinced they’ll receive a cash injection, and as such, 54% aren’t making any financial plans for a comfortable retirement.

A fifth of those polled are counting on their parent’s inheritance to help them get out of debt, while the same percentage hope they’ll finally be able to step foot on the property ladder.

Stothard added: “No matter what your financial circumstances, it’s much better to recognise where you are and to review your financial affairs regularly, rather than place a dependence on benefiting from someone else’s. Doing the latter is a big gamble, and in today’s financial climate, it might not pay off.”