Wills, Wealth, and Race

The brief’s key findings are:
The analysis explores how receiving an inheritance, having a will, and planning and realizing a bequest are interrelated and vary by race.
Black and Hispanic individuals are less likely to get an inheritance, have a will, and plan to leave a bequest.
Among those who do plan to leave a bequest, Black and Hispanic individuals are less likely to realize their bequest target.
However, having a will increases the chances of achieving one’s bequest target, offering a potential way to improve the situation.