The Law Reform Commission says the tradition of parents leaving children large sums of money in their wills is becoming a thing of the past.
The body says recent economic pressures and the country's aging population means parents no longer have the funds to pass on when they die.
It says Ireland need to review its inheritance laws.
Fergus Ryan, a Law Lecturer at NUI Maynooth, says legally children do not always have to receive an inheritance:
He said: "The provision is designed to protect children who are at an age or a situation in life where they might reasonably expect to get support.
"There is no automatic right, the relationship between parents and child doesn't of itself create a moral duty."
Mr Ryan also says money that had been used for inheritance is now being used in early adulthood.
He said: "For instance if they have paid for an expensive education or if they have helped you to buy a house by putting down a deposit or helped you with a deposit, or if there have been mortgage payments.
"There is an argument that if you are up on your feet now, and you are earning your own income and you have your own family, that there is no obligation on them in those circumstances."