Data shows promise for Iowas Future
According to a new Iowa Transfer of Wealth Study released from the Community Vitality Center, for the years 2008 through 2012, $7.8 billion were transferred through probate to descendants of Iowans who died. When compared an earlier 2002 study the size of estates has grown.
The Community Vitality Center of Iowa State University Extension shared these county comparisons. Others can be found at www.cvcia.org.
| Estimated1 Annual Average Wealth Transfer per Recorded Probated Estate for Iowa Counties in Community Foundation of Greater Dubuque Service Region, 2008 – 20121 and 1998 - 2002.2 | ||
|---|---|---|
| Annual average wealth transfer per recorded probated estate during 2008-20121 | Annual average wealth transfer per recorded probated estate during 1998-20022 | |
| County | $3 | $3 |
| Allamakee | 522,511 | 238,738 |
| Clayton | 543,670 | 237,745 |
| Clinton | 386,302 | 271,998 |
| Delaware | 668,538 | 237,943 |
| Dubuque | 401,524 | 290,974 |
| Jackson | 451,727 | 250,767 |
| Jones | 636,468 | 211,338 |
| Total in CFGD Service Area | ||
| 1analysis carried out in 2016; 2previously reported from analysis carried out in 2004; 3current dollars, not adjusted for inflation | ||
| Estimated1 Annual Average Total Wealth Transfer for Iowa Counties in Community Foundation of Greater Dubuque Service Region, 2008 – 20122 and 1998 - 2002.3 | ||
|---|---|---|
| Estimated annual average total wealth transfer 2008-2012 | Estimated annual average total wealth transfer 1998-2002 | |
| County | $ Millions4 | $ Millions4 |
| Allamakee | 38.2 | 23.2 |
| Clayton | 55.9 | 29.2 |
| Delaware | 69.5 | 24.5 |
| Dubuque | 109.4 | 118.4 |
| Jackson | 66.3 | 31.9 |
| Jones | 71.7 | 28.0 |
| Clinton | 124.5 | 95.0 |
| Total in CFGD Service Area | 535.5 | 350.21 |
| 1adjusted for missing probate data using average estate values for each county individually; 2analysis carried out in 2016; 3previously reported from analysis carried out in 2004; 4current dollars, not adjusted for inflation | ||
Community Foundations are in partnership with caring Iowans to retain local wealth forever through permanent endowments. If only 5% of this wealth was earmarked for the community, community foundation endowments would generate millions of dollars every year for signature community needs forever. Hospitals, schools, faith organizations, museums, libraries and trails can all be sustained through community foundation endowments.
“True progress starts with individuals planning for future generations,” said MJ Smith, Director of Affiliate Foundation at the Community Foundation of Greater Dubuque. “As donors we can provide for causes we love during our lifetimes, but by planning to leave just a small portion of our wealth in our estate plans, we can continue to support those causes long after we’re gone.”