TY - CHAP T1 - Leaving Bequests: By Accident or by Design? T2 - Death and Dollars: The role of gifts and bequests in America Y1 - 2003 A1 - Michael D Hurd ED - Alicia H. Munnell ED - Sundén, Annika KW - Adult children AB - The life-cycle model of consumption is the standard model for the analysis of consumption and saving over the life cycle.¹ The model specifies that people save during their working lives, and then consume their savings in retirement. The claim that a large fraction of household wealth is the result of inheritances has stimulated substantial interest in a bequest motive for saving. While large bequests are not necessarily at odds with simple life-cycle saving, they could also indicate that people are actively saving in order to make such transfers. JF - Death and Dollars: The role of gifts and bequests in America PB - The Brookings Institution Press CY - Washington, DC N1 - ProCite field 8 : eds U4 - Bequests/Bequest Motives ER -