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Inheritances and Bequest Planning: Evidence from the Survey of Consumer Finances

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  • Dale R. DeBoer

    (University of Colorado Colorado Springs)

  • Edward C. Hoang

    (University of Colorado Colorado Springs)

Abstract

Using data from the Survey of Consumer Finances, this paper documented the positive correlation between the receipt of an inheritance and the expectation of leaving a bequest. Inheritance recipients were found to have a higher probability of planning to leave a bequest relative to households that had not received an inheritance. Conditional on having already received an inheritance, the likelihood of expecting to leave a bequest was even larger for households that anticipated to receive an inheritance in the future. The findings in this paper suggest that inheritances already received or expected to be received may be an important transmission mechanism underlying the bequest motive.

Suggested Citation

  • Dale R. DeBoer & Edward C. Hoang, 2017. "Inheritances and Bequest Planning: Evidence from the Survey of Consumer Finances," Journal of Family and Economic Issues, Springer, vol. 38(1), pages 45-56, March.
    • Handle: RePEc:kap:jfamec:v:38:y:2017:i:1:d:10.1007_s10834-016-9509-0
    DOI: 10.1007/s10834-016-9509-0
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    References listed on IDEAS

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    Cited by:

    1. Mengyuan Zhou, 2022. "Does the Source of Inheritance Matter in Bequest Attitudes? Evidence from Japan," Journal of Family and Economic Issues, Springer, vol. 43(4), pages 867-887, December.
    2. Faziatul Amillia Mohamad Basir & Wan Marhaini Wan Ahmad & Mahfuzur Rahman, 2023. "Estate Planning Behaviour: A Systematic Literature Review," JRFM, MDPI, vol. 16(2), pages 1-21, January.
    3. Kyoung Tae Kim & Jae Min Lee, 2021. "A Review of a Decade of Financial Behavior Research in the Journal of Family and Economic Issues," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 131-141, July.
    4. Mengyuan Zhou, 2019. "The Effect of the Source of Inheritance on Bequest Attitudes: Evidence from Japan," Keio-IES Discussion Paper Series 2019-018, Institute for Economics Studies, Keio University.
    5. Shinae Choi & Melissa J. Wilmarth, 2019. "The Moderating Role of Depressive Symptoms Between Financial Assets and Bequests Expectation," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 498-510, September.

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    More about this item

    Keywords

    Inheritance; Bequest; Wealth;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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