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How inheriting affects bequest plans

Oded Stark and Anna Nicinska

No 208141, Discussion Papers from University of Bonn, Center for Development Research (ZEF)

Abstract: We present and test the idea that bequest planning is linked with the experience of inheriting. We consider “a family tradition of bequeathing” as a channel through which the intention to bequeath is molded by and is positively correlated with the experience of inheriting. We use data from the Survey on Health, Ageing, and Retirement in Europe (SHARE) to test whether, other things held constant, inheriting has a positive influence on the intention to bequeath. We find that the experience of inheriting enhances the intension to bequeath as predicted by the family tradition model, independently of the positive impact of wealth. We also find that the expectation of inheriting has a positive impact on the intention to bequeath, controlling for the expected increase in wealth on account of future inheritances. Apparently, it is not the financial means that inheritance provides which account for its impact on the intention to bequeath; it is rather the family tradition of bequeathing instilled through inheriting.

Keywords: Consumer/Household Economics; Institutional and Behavioral Economics (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-ger
Date: 2015-08
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Journal Article: How Inheriting Affects Bequest Plans (2015) Downloads
Working Paper: How inheriting affects bequest plans (2015) Downloads
Working Paper: How inheriting affects bequest plans (2015) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ubzefd:208141

DOI: 10.22004/ag.econ.208141

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