Even with this, there is very little evidence on the patterns of
inter vivos transfers and bequests, let alone the underlying motivations and comparative statics.
1992), applied [section]733.607 to
inter vivos transfers when the property was no longer in the decedent's name at the moment of death--akin to the Parker case--and went on to hold that the task of retrieving the property for the benefit of the estate should be left to the personal representative.
Consistent findings from the US, UK, and Australia in relation to intergenerational transfers identify partners and families as prime beneficiaries and suggest the principles behind post mortem bequests favour equality and thus differ from
inter vivos transfers that are more likely to favour need (Baker & Gilding 2011).
Subsection 73(4):
Inter vivos transfer of family farm corporations and partnership.
Several empirical studies of
inter vivos transfers (i.e., transfers between living persons) have documented that financial resources are more likely to be transferred to children with low rather than high income (McGarry and Schoeni, 1995; Hochguertel and Ohlsson, 2000).
When the probability of
inter vivos transfers was examined, there were significant differences between the Stop Work and the No Retirement Plans categories.
The authors find that households experiencing larger declines in the expected tax disadvantages of bequests substantially reduced their
inter vivos transfers relative to households experiencing small declines in the tax disadvantages of bequests.
The question becomes, "Why does the relationship between wealth and income/demographics differ so significantly between blacks and whites?" Racial differences in rates of return,
inter vivos transfers and inheritances, and savings behavior could all underlie the race difference in wealth models and contribute to the part of the wealth gap not explained by income and demographics.
Even a relatively weak version of such concerns might well lead people whose saving has been primarily motivated by altruism to effect their altruistic ends through bequests rather than
inter vivos transfers. Thus, it seems most plausible that observed intergenerational transfers are explained by some mix of the above motives, plus others not even mentioned.
* Will gifts and other
inter vivos transfers taint qualification for IRC section 6166 by pushing the estate below the required percentage interests to qualify?
1971), the Florida Supreme Court noted "[i]t is established in Florida that if a substantial beneficiary under a will occupies a confidential relationship with the testator and is active in procuring the contested will, the presumption of undue influence arises." The Carpenter presumption has been extended to
inter vivos transfers. (2) Recently enacted F.S.
This burden is offset if owners of land give it to those who do not yet own it, either on death or through
inter vivos transfers. Thus if one wants to look at the adequacy of national wealth to finance retirement on a basis which does not involve intergenerational transfers, it is more relevant to look at produced wealth (including net foreign assets) only.
