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Inheritances, gifts and the distribution of wealth

Book chapter

In wave 6, the ELSA survey included recall questions on the lifetime receipt of inheritances and substantial gifts (defined as those worth over £1,000 in today’s money). This means that, for the first time, we have data on the lifetime receipt of inheritances and gifts, alongside detailed wealth statistics, for a large sample of today’s cohorts of older individuals. In this chapter, we use this new ELSA data to document the pattern of inheritances and gifts received by today’s cohorts of older individuals and the impact these transfers may have had on the distribution of wealth for these cohorts.

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Book
This report is the sixth wave of the English Longitudinal Study of Ageing, a survey of people aged 50 and over in England.
Press release
Inheritances and large gifts received by English individuals born between the 1920s and 1950s do not appear to have increased the degree of inequality in their wealth holdings. This is the main finding of new IFS research, published today as part of English Longitudinal Study of Ageing (ELSA) Wave ...