Archive: Gal Wettstein
Writing a will can improve the transmission of wealth across generations by preventing the dissipation of assets – such as a family home divided among multiple heirs – and by encouraging donors to save for their beneficiaries. Despite the advantages of having a will, the percentage of households with a will is surprisingly low…
The brief’s key findings are: The value of Social Security’s retirement program to individuals is often measured by comparing expected benefits to payroll taxes. But this approach ignores the program’s insurance value, which is larger for those with more uncertain lifespans. The analysis estimates the insurance value using a lifecycle model for stylized households by race, education,…
