Open thread, 11-17 August 2014

David_Gerard

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Previous open thread

If it's worth saying, but not worth its own post (even in Discussion), then it goes here.

Notes for future OT posters:

1. Please add the 'open_thread' tag.

2. Check if there is an active Open Thread before posting a new one.

3. Open Threads should be posted in Discussion, and not Main.

4. Open Threads should start on Monday, and end on Sunday.

In American society in particular, I would assume a large reason that wealth is not passed from generation to generation currently is the enormous costs associated with end-of-life medical care. You've got to be in the top few percent of Americans to be able to have anything left after medical costs (or die early/unexpectedly which also tends to work against estate planning efforts.)

I don't think those costs are relevant for families with fortunes.

4Shmi12y

This only became a thing in the last 50 years or so and would not have been a major expense a century ago. Even now the costs are about $50k to $100k per person, which is in line with what a healthy upper middle-class person spends every year. The wealthy spend a lot more than that, so the palliative care costs are unlikely to make a dent in their fortunes.

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