Millions of Australians are looking forward to acquiring an inheritance in the next few decades, with a good number of them saying they would rather receive their anticipated windfalls before the death of a relative, a new Finder study has revealed.

An increasing tendency towards early asset distribution was highlighted by the report, which polled 1,062 respondents, amid anticipation of significant wealth transfers from aging baby boomers. Significantly, 40% would rather get their inheritance when family members are still living.

More than 7.5 million Australians, which makes up almost a third of the population, expect to inherit wealth in the coming few decades. While 10% of them expect to inherit something in the next ten years and 13% hope to do the same in the next two decades.

While these inheritances are physical properties, in terms of money, 28% expect to inherit more than $100,000, 20% between $50,000 and $100,000, and 15% up to $50,000.

Sarah Megginson of Finder claims that this is a historic change in Australia's wealth, as baby boomers move trillions of dollars worth of assets amid surging real estate and stock valuations, Nine News reported.

Understanding the need to have the will to choose executorship and allocate assets, Megginson said: "Making these decisions upfront with transparency prevents false expectations."

She also emphasized that to optimize the inheritance's long-term advantages, heirs must make prudent plans.

"An early inheritance lets the parent see their children or grandchildren enjoying the gift, and the financial windfall at a younger age gives them more opportunity to use it towards something that drastically improves their life, like a deposit on a home or investing it in education," Megginson told Nine News. "It's not a decision that should be made without some serious consideration of your future financial needs and also the tax impacts."