Parents should support children through their college years, help with tuition and provide financial assistance during emergencies, according to 90 percent of respondents in a study from MetLife Mature Market Institute.

Multi-Generational Views on Family Financial Obligations: A MetLife Survey of Baby Boomers and Members of Generations X and Y reported that respondents think that parents should not bail their children out of debt when the debt is from overspending, and just 7 percent feel a strong responsibility that parents should contribute to a down payment on a house.

Also among the findings:

• Boomer parents are more likely (75 percent) to have provided financial assistance with items other than education or a house, compared with 40 percent of Gen X parents with adult children. Fifty-seven percent of Gen Yers have received such support from parents or grandparents, compared to 36 percent of boomers.
• 35 percent of boomers received support for college tuition from their parents, but all three of the generations believe it is their obligation to do so for their children.
• Seven in 10 boomers (70 percent) said enjoying retirement takes precedence over leaving an inheritance; just 64 percent of Gen Xers and 57 percent of Gen Yers agreed.
• Across the generations, 78 percent feel obligated to provide for a surviving spouse if one dies unexpectedly, but 41 percent said their life insurance coverage falls short.