Wednesday, June 18, 2014
As I have previously discussed, a Boston College study projects a huge jump in inheritance funds being transferred in the coming years. The projection was made in 1999, and the updated prediction is even higher than the original, despite the devastating effects of the recession. The huge $59 trillion estimate is partially explained by the fact that the richest families, and those that are most likely to give large amounts to charity, were not hit as hard by the recession as the majority of households. The updated estimates include suggestions that if the recession had not have happened then the projections would be closer to $73.3 trillion.
See Ashlea Ebeling, Heirs and Charities Await $59 Trillion, Forbes, June 17, 2014.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.