Tag: Wealthy

Patterns of Giving by the Wealthy

While almost all wealthy individuals make charitable contributions during their lifetimes, most fail to make charitable gifts when they die. But when they do, these contributions are, on average, many times larger than the gifts they gave over their last few years of life, even though earlier giving would have almost always reduced their total tax burden. In this study, we use a file of estate tax returns matched to income tax returns to analyze charitable giving by wealthy individuals at the time of their death (2007) compared with giving over their last five years of life (2002–06).

Photo by Olsztyn, Poland