Summary

Inheritances make up a considerable share of nationwide wealth, however are sometimes neglected in discussions of retirement safety.  Racial gaps in inheritances are more likely to exacerbate racial disparities in wealth.  One motive that Black and Hispanic decedents are much less more likely to go down significant estates is that they’re far much less more likely to have a will than non-Hispanic Whites.  This paper paperwork racial gaps in receiving an inheritance, within the chance of getting a will, and within the expectation of leaving important bequests.  The evaluation then seems on the relationship between bequest expectations and realized bequests to see whether or not expectations are predictor of actual outcomes.  The outcomes present that Black and Hispanic decedents and those that die with no will are much less more likely to obtain their bequest expectations.  This paper is the primary of a three-part sequence.  The second half shall be a survey to see if a believable intervention may improve the adoption of wills, whether or not writing of a will will increase meant bequests, and, along side the estimates of this paper, whether or not wills would seemingly improve realized bequests.  The third a part of the mission will look at the impression of will incentives on racial wealth gaps when compounded throughout a number of generations.