Empirical Research on How the Elderly Handle Their Estates

This article examines past research for its insight into the legacies that people leave and the personal preferences they hold for the distribution of their estates. For the most part, the findings of the research examined are very intuitive. Most people do not have wills. Those that do are generally older, wealthier, more educated, and tend to give the bulk of their estates to spouses and children. In order to provide a complete picture of legacy, future research must take into account modern day relationships and lifestyles.