The rising importance of bequests as a source of personal income lead to renewed interest in the taxation of wealth … almost exclusively occurs for donors rather than recipients of wealth transfers. Beyond, tax planning is more prevalent for …

. This paper analyzes if and under what conditions the owner of a firm raises the wealth of his heirs by donating his …-exempt and, therefore raises the wealth of the heirs if the return on the firm's equity is modest and the personal inheritance …