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New Research Shows That Parents Play Favorites with Children in Estate Planning and More

October 11, 2017

 

Parents may try their best to treat children equally. However, a new research study shows that they may have a favorite and it will play out in multiple ways. The Journal of Consumer Psychology shows what may parents choose which child to give a $25 bond gift to. Fathers were most likely to choose their sons and a majority of mothers selected their daughters. 

Scientists say that this is because parents are more likely to identify significantly with their same gender child. Parents spend more money on a child of the same sex as themselves. This is true when it comes to savings bonds, cash allowances, back to school supplies and estate planning.

Research out of Rutgers Business School, State University of New York Oneonta and the University of Minnesota’s Carlson School of Management found that consumers tend to favor investing in children who are the same sex as them because they are more likely to identify with those children. Have you thought about which of your children would benefit from receiving your assets and the most appropriate way to transfer these on? To minimize tax consequences and to ensure everyone is cared for? Consult with an estate planning attorney today.


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Schedule your free Exploratory phone call

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Recent Posts
Do You Owe The AMT?

American educational reformer Horace Mann called education “the great equalizer.” In football, it’s been said ...

See more
What is the Value of Your Business?

In the second quarter of 2023, more than 2,300 small businesses were sold. The median ...

See more
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more