|Title||Love and Legacy: Are Children’s Affections Related to Parents’ Bequest Intentions?|
|Publication Type||Journal Article|
|Year of Publication||2022|
|Authors||Sommer, M, Lim, HN|
|Journal||Journal of Financial Service Professionals|
|Keywords||Bequests, children, positive affection|
This study investigated whether positive and negative affection shown by children towards their parents was associated with their parents’ bequest intentions. In a final sample of 1,534 adults aged 50 and older, a positive relationship was found between positive affection and bequest intentions. Surprisingly, no relationship was found between negative affection and bequest intentions. These results suggest that in cases of a distant or strained relationship, parents are reluctant to disinherit their children. Based upon these findings, financial service professionals should not assume that challenged parent-child relationships warrant the need for alternative beneficiaries. Instead, given the clients’ potential lack of strong emotional bonds with their children, financial service professionals are encouraged to help clients consider other opportunities to maximize emotional well-being and overall life satisfaction.