LEADER 04184nam 2200637Ia 450 001 9910828947303321 005 20200520144314.0 010 $a0-8157-5892-8 035 $a(CKB)111087027973568 035 $a(EBL)3004401 035 $a(SSID)ssj0000135523 035 $a(PQKBManifestationID)12019926 035 $a(PQKBTitleCode)TC0000135523 035 $a(PQKBWorkID)10062775 035 $a(PQKB)11407321 035 $a(OCoLC)1132227177 035 $a(MdBmJHUP)muse73215 035 $a(Au-PeEL)EBL3004401 035 $a(CaPaEBR)ebr10063870 035 $a(OCoLC)53482635 035 $a(MiAaPQ)EBC3004401 035 $a(EXLCZ)99111087027973568 100 $a20041017d2003 my 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 00$aDeath and dollars $ethe role of gifts and bequests in America /$fAlicia H. Munnell, Annika Sunden, editors 205 $a1st ed. 210 $aWashington, D.C. $cBrookings Institution Press$dc2003 215 $a1 online resource (432 p.) 300 $aDescription based upon print version of record. 311 $a0-8157-5890-1 320 $aIncludes bibliographical references and index. 327 $a""Contents""; ""PART 1 - The U. S. Experience in Perspective""; ""PART 2 - How Do People Make Gifts and Bequests?""; ""PART 3 - Taxes, Pension Benefits, and Wealth Transfers""; ""PART 4 - Wealth Transfers and the Economy""; ""References""; ""Contributors""; ""Index"" 330 $aDespite the recent downturn in the stock market, the 1990s boom and the shift to defined contribution plans mean that more individuals will have significant wealth upon retirement. How they use that wealth will determine not only their own well-being, but also the living standards of their children, the resources available to philanthropies, and the level of investment capital in the economy. This volume explores the reasons why people save, how they decide to allocate their wealth once they retire, and how givers select their beneficiaries. It also assesses the extent to which the estate tax and annuitization of retirement wealth affects the amount and nature of wealth transfers. Finally, it looks at the impact of wealth transfers--first on the amount of aggregate saving and capital accumulation, and then on the distribution of wealth among households. Several conclusions emerge. First, gifts and bequests are important; they may account for about half of total wealth in America. Second, rich people make most of the wealth transfers. They are thoughtful about how much they pay in taxes and how they dispose of their wealth. They care about philanthropic causes and view their charitable contributions as more than a way to avoid paying estate taxes. Third, most nonrich people probably have some lexicographic preferences about the disposition of their wealth; they want to ensure they have adequate resources to take care of their own needs, and if money is left over, they would like it to go to their children. Fourth, little support has emerged for the pure altruistic model of bequests. Fifth, institutions matter. In the case of the rich, the estate tax probably reduces saving and increases bequests to charity. In the case of the nonrich, the shift to defined contribution plans will at a minimum mean that they have more wealth in their hands when 330 8 $athey die, and therefore they will leave larger accidental bequests. It might also increase their interest in lea. 606 $aInheritance and succession$zUnited States 606 $aWealth$zUnited States 606 $aCharitable uses, trusts, and foundations$zUnited States 606 $aCharitable bequests$zUnited States 615 0$aInheritance and succession 615 0$aWealth 615 0$aCharitable uses, trusts, and foundations 615 0$aCharitable bequests 676 $a339.2/2 701 $aMunnell$b Alicia Haydock$0122985 701 $aSunden$b Annika E$01620906 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910828947303321 996 $aDeath and dollars$94094030 997 $aUNINA