The story goes that baby boomers are going to give tens of trillions of dollars to their heirs over the next few decades.

Some $53 trillion will be passed down from boomers to their Gen X, millennial and Gen Z heirs, as well as to charities, according to wealth management firm Cerulli Associates.

But the overwhelming cost of health care for older people means most people in those later generations won’t inherit much, even if their elders seem well-off today.