Charitable Bequest Demographics
- 1.According to data from the nationally representative Health and Retirement Study, about what percentage of Americans over age 50 would indicate that they have a charitable estate plan?
- A.
1.4%
- B.
5.7%
- C.
9.4%
- D.
20.7%
- E.
25.4%
- 2.According to data from the nationally representative Health and Retirement Study, about what percentage of Americans over age 50 who give more than $500 per year to charity would indicate that they have a charitable estate plan?
- A.
1.7%
- B.
5.7%
- C.
9.4%
- D.
20.7%
- E.
25.4%
- 3.Among donors ($500+) over 50 with an estate plan, what is the single most significant factor associated with having a charitable estate plan?
- A.
Age
- B.
Education
- C.
Wealth
- D.
Income
- E.
Childlessness
- 4.According to regression analysis of the Health and Retirement Study, an otherwise similar donor who makes gifts over $500 per year to charity, volunteers regularly and has grandchildren is actually LESS likely to have a charitable estate plan than a non-donor who does not volunteer, but has no children or grandchildren.
- A.
True
- B.
False
- 5.According to a study of Australian wills, Australian will makers without surviving children were
- A.
50% less likely to make a charitable gift from their estate
- B.
Equally likely to make a charitable gift from their estate
- C.
Twice as likely to make a charitable gift from their estate
- D.
Three times more likely to make a charitable gift from their estate
- E.
Ten times more likely to make a charitable gift from their estate
- 6.Based on data from the 1996-2006 Health and Retirement Study, factors that were significantly associated with dropping the charitable component of an estate plan did NOT include
- A.
Becoming a parent
- B.
Becoming a grandparent
- C.
Stopping current charitable giving
- D.
A drop in self-rated health
- E.
Change in assets
- 7.Which of the following is NOT a likely explanation for why such a large percentage of those who indicate that they have made a charitable plan actually generate no charitable gifts at their death?
- A.
If there is a surviving spouse, often even “charitable” plans leave everything to the surviving spouse at the death of the first spouse, with charity to receive something only after the death of the second spouse to die
- B.
Estate plans with a charitable component are more likely to “disappear” leaving the estate with no estate planning documents, resulting in a distribution to the heirs through intestacy
- C.
Because a large proportion of the wills of those who indicated the presence of a charitable plan are never probated (likely due to all assets having joint titles or pay-on-death designations)
- D.
Because a large proportion of those who indicate the presence of a charitable estate plan have a will rather than a funded trust and wills are less effective at ultimately generating a charitable estate gift
- E.
All of the above are valid explanations of why such a large proportion of individuals who indicate they have a charitable estate plan never generate a charitable gift after death
- 8.What happened between 1921 and 1933 in the United States that could have a negative effect on the total number of charitable bequests currently being received?
- A.
The number of childless women fell significantly during this time
- B.
The average amount of education fell significantly during this time
- C.
The number of births fell significantly during this period of time
- D.
The number of births rose significantly during this period of time
- E.
The number of charities fell significantly during this period of time
- 9.From 2000 to 2007 the total number of persons alive in the United States increased steadily in all over 50 age groups EXCEPT for those in their
- A.
50s
- B.
60s
- C.
70s
- D.
80s
- E.
90s
- 10.When comparing the charitable giving of baby boomers with those of an earlier generations, baby boomers with comparable wealth and income, have tended to
- A.
Give LESS in current charitable donations but have been MORE likely to leave charitable bequests
- B.
Give MORE in current charitable donations but have been LESS likely to leave charitable bequests
- C.
Give LESS in current charitable donations and have been LESS likely to leave charitable bequests
- D.
Give MORE in current charitable donations and have been MORE likely to leave charitable bequests
- E.
Give LESS in current charitable donations but have been equally likely to leave charitable bequests
- 11.According to data from the nationally representative Health and Retirement Study, from 1996 to 2006 charitable estate planning among adults aged 55-65
- A.
Increased then decreased
- B.
Decreased then increased
- C.
Increased steadily
- D.
Decreased steadily
- E.
Remained unchanged
- 12.According to data from the nationally representative Health and Retirement Study, in 2006 adults in the age 55-65 group were different than adults in the age 55-65 age group in 1996 in part because of the 2006 group’s
- A.
Higher levels of education and higher fertility
- B.
Higher levels of income and lower levels of wealth
- C.
Higher numbers of grandchildren and higher levels of education
- D.
Lower levels of education and higher levels of charitable estate planning
- E.
Higher levels of education and higher levels of childlessness
- 13.According to data from the nationally representative Health and Retirement Study, among those age 55-65, between 1996 and 2006 the tendency to have a charitable estate plan
- A.
Increased notably among those who had a college degree but no children
- B.
Increased notably among those who had children, but no college degree
- C.
Increased notably among those having no children and no college degree
- D.
Increase notably among those have children, but no college degree
- E.
Both A and C
- 14.Statistically, the most significant drivers of the increased tendency to make charitable estate plans appears to have been
- A.
Increased frequency of childlessness
- B.
Increased levels of education
- C.
Increased attendance at religious services
- D.
Increased probate administration costs
- E.
Both A&B
- 15.Which of the following factors would NOT suggest that charitable estate planning will continue to significantly increase in the coming years?
- A.
The upcoming generation of retirees will be larger as the baby boom generation reaches retirement age
- B.
The upcoming generation of retirees will be more highly educated, making them more likely to engage in charitable estate planning
- C.
The upcoming generation of retirees will be more likely to have no children, making them more likely to engage in charitable estate planning
- D.
The upcoming generation of retirees will be facing higher estate taxes than in 2010, making them potentially more likely to engage in charitable estate planning
- E.
The upcoming generation of retirees have been more engaged with religious organizations than previous generations, making them more likely to engage in charitable estate planning.
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