Study Predicts Potential of D.C.-Area Bequests
July 26, 2006 | Read Time: 1 minute
According to a study by Boston College’s Center on Wealth and Philanthropy, Washington-area residents are expected to bequeath $2.4-trillion over the next 50 years, possibly indicating the largest transfer of wealth in the region’s history, reports The Washington Post.
The study, to be released this week, predicted that charities will receive close to $460-billion of those assets. However, other researchers have questioned the study’s credibility, citing longer life spans and rising health-care costs as expenses that will likely draw money from potential philanthropists’ savings.
Bequest totals in recent years have fallen far short of previous predictions made by Boston College, raising questions about the accuracy of such predictions, The Chronicle of Philanthropy has reported. (A paid subscription is required to view the Chronicle article.)
