Tag: bequests
If Black families wrote wills at the same rate as white, how much would it help? Having a will is really important. In the absence of a will, a decedent’s assets are distributed according to state intestacy law. These rules work fine for traditional families, but can result in the wrong outcome when the intended…
This paper examines the persistent racial wealth gap between Black and White households in the United States, focusing on the disparity in will-writing rates as a contributing factor. Despite attempts to bridge the wealth gap since Emancipation, progress has stalled, and since the 1980s, the gap has actually widened. The analysis investigates the potential for…
