site banner
PaperclipPerfector  5mo ago (text post)   2683 thread views

Small-Scale Question Sunday for October 29, 2023

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

2
Top Bottom Old Controversial Comments
Jump in the discussion.

No email address required.

What can I do with my money after I'm dead? (No, I'm not planning on dying soon, I'm just curious.) Is it possible to, say, have all of my money invested and untouched for a hundred years, with someone as a steward of the fund who is paid from it yearly just to manage it, and then create a foundation to, say, support a certain art or something I'm interested in after the money has amassed to a great amount? Is this legal? Are there foundations that people have planned after their death that are operating today in this fashion?

Afaik this is what Benjamin Franklin did. Gifted money to Boston in his will but declared they couldn't touch it for 100 years while it was invested.

In the US charitable foundations are required to spend at least 5% of their endowment each year. Also it's difficult to find someone with standing to sue if the foundation isn't being run according to the rules you laid out, so it might not go to what you want anyways.

Is it possible to, say, have all of my money invested and untouched for a hundred years

Generally no. And thank God. Because if this was allowed all the resources of the world would be controlled by long dead people.

https://en.wikipedia.org/wiki/Rule_against_perpetuities

Rich people in Medieval times used to give all their money to monasteries so that monks would pray for their souls. We can only guess how many person-millenia were squandered praying for the souls of the dead rich. A lot, presumably, even if most monks mailed it in.

Once you're dead, you'll have limited ability to control your former wealth.

That's why you should strive to spend nearly all your money before you die. If you don't, you'll get a Ford Foundation situation where your sad and weak descendants spend your money on the exact antithesis of your desired legacy.

What is this place?

This website is a place for people who want to move past shady thinking and test their ideas in a court of people who don't all share the same biases. Our goal is to optimize for light, not heat; this is a group effort, and all commentators are asked to do their part.

The weekly Culture War threads host the most controversial topics and are the most visible aspect of The Motte. However, many other topics are appropriate here. We encourage people to post anything related to science, politics, or philosophy; if in doubt, post!

Check out The Vault for an archive of old quality posts. You are encouraged to crosspost these elsewhere.


Why are you called The Motte?

A motte is a stone keep on a raised earthwork common in early medieval fortifications. More pertinently, it's an element in a rhetorical move called a "Motte-and-Bailey", originally identified by philosopher Nicholas Shackel. It describes the tendency in discourse for people to move from a controversial but high value claim to a defensible but less exciting one upon any resistance to the former. He likens this to the medieval fortification, where a desirable land (the bailey) is abandoned when in danger for the more easily defended motte. In Shackel's words, "The Motte represents the defensible but undesired propositions to which one retreats when hard pressed."

On The Motte, always attempt to remain inside your defensible territory, even if you are not being pressed.


New post guidelines

If you're posting something that isn't related to the culture war, we encourage you to post a thread for it. A submission statement is highly appreciated, but isn't necessary for text posts or links to largely-text posts such as blogs or news articles; if we're unsure of the value of your post, we might remove it until you add a submission statement. A submission statement is required for non-text sources (videos, podcasts, images).

Culture war posts go in the culture war thread; all links must either include a submission statement or significant commentary. Bare links without those will be removed.

If in doubt, please post it!


Rules


Recommended Posts And Communities

Recommended Realtime Chats