Unequal Bequests

Marco Francesconi, Robert Pollak and Domenico Tabasso

No 21692, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Using data from the Health and Retirement Study, we make two contributions to the literature on end-of-life transfers. First, we show that unequal bequests are much more prevalent than generally recognized, with more than one-third of parents with wills planning to divide their estates unequally among their children. Plans for unequal division are particularly concentrated in complex families, i.e., families with stepchildren and families with genetic children with whom parents have limited or no contact. Second, we find that many older Americans have no wills. Although the probability of having a will increases with age, 30 percent of individuals aged 70 plus are without a will and, of the people who died between 1995 and 2012, nearly 40 percent died intestate.

JEL-codes: D13 J12 K36 (search for similar items in EconPapers)
Date: 2015-10
New Economics Papers: this item is included in nep-age
Note: AG LS
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Citations: View citations in EconPapers (4)

Published as Marco Francesconi & Robert A. Pollak & Domenico Tabasso, 2023. "Unequal bequests," European Economic Review, .

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Related works:
Journal Article: Unequal bequests (2023)
Working Paper: Unequal Bequests (2015)
Working Paper: Unequal Bequests (2015)
Working Paper: Unequal Bequests (2015)
Working Paper: Unequal Bequests (2015)
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