Intergenerational mobility is a subject of a large literature in social science. It focuses on the association between parents' and children's economic wellbeing and receives significant attention because it speaks to the question of equality of opportunity (Torche, 2015), which many consider an...

We quantify the size and tax-responsiveness of financial transfers made to heirs before death. The wealth of singles (including widows) with children declines substantially in anticipation of death. 92% of this decline is explained by transfers to children, while long-term care copayments can...