Where to leave money when we die

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Topic Author
luberhill
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Where to leave money when we die

Post by luberhill » Tue Feb 11, 2020 9:19 pm

Mid 60s... ,,,no debt...no kids..cash and accounts about 1.6 mil.........properties worth about another 200k
Have enough pension and ss to live the way we do know without dipping into savings.im till working and earn about 130k a yr,,wife is retired teacher..no family members to speak of to leave it to.
Question is how do you find a legit place to leave it...don't want to leave it to the Church for various reasons..
We thought about The Friends Of Acadia because we love Maine and Acadia,,,not sure if its a legit place to leave it....
I told wife we should buy a nice house someplace warm...
We live a fairly simple life....both are fairly healthy,,,we think
Thoughts

PoppyA
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Re: Where to leave money when we die

Post by PoppyA » Tue Feb 11, 2020 9:24 pm

Leave a donation in honor of someone you love. ie: scholarship in wife/ mother/ fathers name at their school/church/sports team, etc.

Dottie57
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Re: Where to leave money when we die

Post by Dottie57 » Tue Feb 11, 2020 9:24 pm

luberhill wrote:
Tue Feb 11, 2020 9:19 pm
Mid 60s... ,,,no debt...no kids..cash and accounts about 1.6 mil.........properties worth about another 200k
Have enough pension and ss to live the way we do know without dipping into savings.im till working and earn about 130k a yr,,wife is retired teacher..no family members to speak of to leave it to.
Question is how do you find a legit place to leave it...don't want to leave it to the Church for various reasons..
We thought about The Friends Of Acadia because we love Maine and Acadia,,,not sure if its a legit place to leave it....
I told wife we should buy a nice house someplace warm...
We live a fairly simple life....both are fairly healthy,,,we think
Thoughts
I will probably leave my assets to family if any is left. However I have thoughts about leaving money to my high school / school district. Money would go to fund scholarships for trade school bound students.

Luckywon
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Re: Where to leave money when we die

Post by Luckywon » Tue Feb 11, 2020 9:29 pm

Doesn't quite answer your question but consider using your funds to purchase an SPIA now and gift the income as it comes in each year to causes you consider worthy. That way you get the pleasure of giving while alive but also have a comfortable cushion in case funds are needed for yourself.

minesweep
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Re: Where to leave money when we die

Post by minesweep » Tue Feb 11, 2020 9:38 pm

I checked Charity Navigator for a rating of 'Friends of Arcadia' (see link). About 67% of contributions goes to the program (14% administrative, 19% fundraising). For me personally I like to see a minimum program percentage in the low 80's. But that's just me. Give.org has no rating on that charity.

Friends of Acadia
Last edited by minesweep on Tue Feb 11, 2020 9:39 pm, edited 1 time in total.

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whodidntante
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Re: Where to leave money when we die

Post by whodidntante » Tue Feb 11, 2020 9:39 pm

I would watch the show Shameless for some ideas.

Topic Author
luberhill
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Re: Where to leave money when we die

Post by luberhill » Tue Feb 11, 2020 9:58 pm

I did a 70k donation last year in a scholarship ...money held in CD and 2k per year awarded to a student

GreenerPastures
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Re: Where to leave money when we die

Post by GreenerPastures » Tue Feb 11, 2020 10:21 pm

I suggest thinking about organizations that made a difference in your/spouse’s life and leaving funds to them. Schools? Outdoor programs? Museums? Or honor people who made a difference in your life. A gift of an endowment honoring a teacher, rabbi/pastor, parent (my father dedicated hours and hours to an organization he believed in) nurse or doctor. These kinds of gifts can provide a legacy for someone who changed your life, and cause others to do the same. And you will leave a lasting benefit on this earth.

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willthrill81
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Re: Where to leave money when we die

Post by willthrill81 » Tue Feb 11, 2020 10:24 pm

I know of a fantastic private foundation that benefits a very worthy cause. :wink:
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

carolc
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Re: Where to leave money when we die

Post by carolc » Tue Feb 11, 2020 10:28 pm

I think the Friends of Acadia is a great idea!

carolc (who loves and annually visits Acadia)

sgm7091
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Re: Where to leave money when we die

Post by sgm7091 » Tue Feb 11, 2020 10:30 pm

1. Give (or setup endowment) to school or colleges or folks who have made you 'grow', 'successful' and 'happy' over the years.

2. Think about causes that you are passionate about e.g. healthcare, environment, poverty, water, air, energy etc and then find organizations whose % overhead/admin is 20% or less (and donate). List them beneficiary to your assets and % allocations. Let them know.

3. Give to large multi-purpose foundation like Gates and similar (Buffet did).

4. If you decide to buy house in a warm place and live your retirement years there, find a cause/need to donate/build in the community improvement,

Topic Author
luberhill
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Re: Where to leave money when we die

Post by luberhill » Tue Feb 11, 2020 10:33 pm

I never thought we would be in this position...its weird but I almost liked it better when we had to pinch our pennies and plan for a major purchase...I cant imagine ever going thru this kind of money the way we live...I guess its a good problem to have

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whodidntante
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Re: Where to leave money when we die

Post by whodidntante » Tue Feb 11, 2020 10:34 pm

willthrill81 wrote:
Tue Feb 11, 2020 10:24 pm
I know of a fantastic private foundation that benefits a very worthy cause. :wink:
The society for practical application of trend following? :happy

nix4me
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Re: Where to leave money when we die

Post by nix4me » Tue Feb 11, 2020 10:42 pm

Find someone young to mentor. Then leave it to him/her.

beernutz
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Re: Where to leave money when we die

Post by beernutz » Tue Feb 11, 2020 10:46 pm

If you want your name on something "forever" then contact a local university or your alma mater if you have one. They'll take your money and put it on a classroom, office, lab, or building depending on how much you give them. Heck they'll name a college after you for enough coin.

I've worked in higher ed since 1994 fwiw.

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newcollegeman
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Re: Where to leave money when we die

Post by newcollegeman » Tue Feb 11, 2020 10:48 pm

Consider leaving some to the John C Bogle Center for Financial Literacy, to continue Jack’s good work. It has helped you & all of us. Worthy indeed!

quantAndHold
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Re: Where to leave money when we die

Post by quantAndHold » Wed Feb 12, 2020 12:13 am

We have the same issue.

Heading to the attorney next week to do the once a decade update of the trust, and it's becoming increasingly likely that there will be enough money when we die to actually make a difference to someone. So one of the things we're thinking about is choosing an organization that will still be in existence, and still be doing something worthwhile a decade or more from now. We don't need our names on anything, we just want to do some good in the world.

This is surprisingly hard.

outbackcountry
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Re: Where to leave money when we die

Post by outbackcountry » Wed Feb 12, 2020 12:19 am

Luckywon wrote:
Tue Feb 11, 2020 9:29 pm
Doesn't quite answer your question but consider using your funds to purchase an SPIA now and gift the income as it comes in each year to causes you consider worthy. That way you get the pleasure of giving while alive but also have a comfortable cushion in case funds are needed for yourself.
:thumbsup

basspond
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Re: Where to leave money when we die

Post by basspond » Wed Feb 12, 2020 7:10 am

If you do not have a person to leave the money to, consider several organizations. I know of an organization that received a huge inheritance and they had to find something to use the money on that wasn’t really necessary. Now unless you want a building named after you.

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JoeRetire
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Re: Where to leave money when we die

Post by JoeRetire » Wed Feb 12, 2020 7:16 am

luberhill wrote:
Tue Feb 11, 2020 9:19 pm
We thought about The Friends Of Acadia because we love Maine and Acadia,,,not sure if its a legit place to leave it....
Completely legit.
Very Stable Genius

fourwheelcycle
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Re: Where to leave money when we die

Post by fourwheelcycle » Wed Feb 12, 2020 7:37 am

I will leave some money to our children and some to charity. Of the charity money I am currently donating each year, and the money I will leave when I die, seventy-five percent goes and will go to our regional senior center.

Most members of this forum are very fortunate to be comfortable or more than comfortable with their family savings and finances. We are in a small minority of all adults, and an even smaller minority of all seniors. I recognize and appreciate my good fortune, and I want to share a portion of my savings with other seniors who are not as fortunate.

I know Maine, and I am a member of Friends of Acadia. I also know there are many, many seniors in Maine who rely on their area senior centers for meals at the centers, rides to health care appointments and grocery shopping, socialization with other seniors, meals on wheels in their homes, advice on Medicare enrollment and other benefit access issues, and a broad range of other senior support services.

Mr. Rumples
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Re: Where to leave money when we die

Post by Mr. Rumples » Wed Feb 12, 2020 7:39 am

Set up an endowed scholarship at a local university, college or trade school. You can make it as narrow or as wide as you want. I have two endowments set up now. One is a scholarship at a local university and one which will generate a yearly cash gift to a HS student who meets certain criteria. My plan is to leave 75% to my heirs and 25% to the funds I have set up.

Regarding Friends of Acadia, perhaps they or a local college could help you set up an endowed scholarship or a grant for a student to do work or research there. They have a youth conservation corps; perhaps some type of specific funding for a grant.

I don't want to just leave money to an organization and let them spent it as part of their general budget to pay for staples and paper, hence the scholarship and grant to go to specific individuals each year who need it or deserve it for their work in the community.

Scholarships can be set up for less than $50,000; I've read that an endowed university chair can be set up for $1.5M.

1130Super
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Re: Where to leave money when we die

Post by 1130Super » Wed Feb 12, 2020 7:52 am

Any thoughts on divesting some of it while your alive? I’ve always found the best charity is just overpaying hardworking people that need it. My theory is that they are actually working for it (leaving a $100 tip to your server or house cleaner) in my opinion it’s better then a handout or all the bureaucracy of it going through a charity.

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Re: Where to leave money when we die

Post by abuss368 » Wed Feb 12, 2020 7:55 am

luberhill wrote:
Tue Feb 11, 2020 9:19 pm
Mid 60s... ,,,no debt...no kids..cash and accounts about 1.6 mil.........properties worth about another 200k
Have enough pension and ss to live the way we do know without dipping into savings.im till working and earn about 130k a yr,,wife is retired teacher..no family members to speak of to leave it to.
Question is how do you find a legit place to leave it...don't want to leave it to the Church for various reasons..
We thought about The Friends Of Acadia because we love Maine and Acadia,,,not sure if its a legit place to leave it....
I told wife we should buy a nice house someplace warm...
We live a fairly simple life....both are fairly healthy,,,we think
Thoughts
You can also work with Vanguard Charitable which is a Donor Advised Fund that can help develop a long term plan according to your wishes.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success." || Buy Total Stock until it hurts. Then find a way to buy even more!

iamblessed
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Re: Where to leave money when we die

Post by iamblessed » Wed Feb 12, 2020 7:59 am

1130Super wrote:
Wed Feb 12, 2020 7:52 am
Any thoughts on divesting some of it while your alive? I’ve always found the best charity is just overpaying hardworking people that need it. My theory is that they are actually working for it (leaving a $100 tip to your server or house cleaner) in my opinion it’s better then a handout or all the bureaucracy of it going through a charity.
+1 when I meet someone that is hardworking and honest. If they cheat in anyway no.

Wricha
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Re: Where to leave money when we die

Post by Wricha » Wed Feb 12, 2020 8:02 am

Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations.

Lately I have been just observing local organizations/individuals and just giving them money anonymously. This is purely situational and does not address what to do with large amounts of money when one dies. So I am interested what other have to say.

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dm200
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Re: Where to leave money when we die

Post by dm200 » Wed Feb 12, 2020 8:56 am

Perhaps some kind of international charity supporting folks in really poor countries.

Here is one that I know would be a great choice: https://raisinghaiti.org/

magazinewriter
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Re: Where to leave money when we die

Post by magazinewriter » Wed Feb 12, 2020 9:03 am

I am in a similar situation. I am leaving money to three friends who are like family to me plus four organizations: my local library, my local PBS television station, Salvation Army and a local charity that helps the poor.

4ransom
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Re: Where to leave money when we die

Post by 4ransom » Wed Feb 12, 2020 3:13 pm

I would cut out the middle man. Make a list of the best people you have known in your life who need or would put the gift to good use.

movingon
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Re: Where to leave money when we die

Post by movingon » Wed Feb 12, 2020 3:46 pm

Same issue though not as much money to leave. I donate to family members while I'm alive. If a responsible relative is in a tight spot, there's no comfort to either of us in knowing there is money for them in my Will. I can assess the situation and give what is reasonable. I make sure they keep quiet about it.

I live in a retirement community and donate to the Resident Assistance Fund, and many of us donate our Dining allowance to those who may need it. I support local organizations whose work, ethics, and administrative expenses are within reason, and also to my alma mater for needy student scholarships. Local Red Cross. I check Charity Navigator for others.

Somehow it makes sense to give what I can now, and quietly enjoy the results. But anything left over will be administered through a Trust - health and education a priority.

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FIREchief
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Re: Where to leave money when we die

Post by FIREchief » Wed Feb 12, 2020 3:49 pm

I would consider World Vision. One of the oldest and most reputable aid organizations, helping children and the poor around the world. No politics, just helping the truly needy.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

bloom2708
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Re: Where to leave money when we die

Post by bloom2708 » Wed Feb 12, 2020 3:55 pm

No nieces or nephews or any relatives?
Church
Friends
Hobby organizations?
Hometown organizations (church you grew up in)
Schools attended

How about starting to spend more now?

All that savings was deferred spending to later. Later is now. If you defer too long, someone else will spend it.
"People want confirmation, not advice" Unknown | "We are here to provoke thoughtfulness, not agree with you" Unknown | Four words: Whole food, plant based

Caduceus
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Re: Where to leave money when we die

Post by Caduceus » Wed Feb 12, 2020 3:59 pm

This is all quite personal, but given your initial thoughts about Friends of Acadia, you seem passionate about the environment/conservation. Have you considered environmental land conservation trusts? These are basically charities/non-profits to which you donate money to buy land that's important for environmental reasons. I like the idea because the land is basically owned in perpetuity. It's a permanent gift with a permanent impact. These trusts end up buying land that protect the habitats of endangered species. A lot of research goes into deciding what lands to buy with the limited funds they have.

Caduceus
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Re: Where to leave money when we die

Post by Caduceus » Wed Feb 12, 2020 4:05 pm

Wricha wrote:
Wed Feb 12, 2020 8:02 am
Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations.

Lately I have been just observing local organizations/individuals and just giving them money anonymously. This is purely situational and does not address what to do with large amounts of money when one dies. So I am interested what other have to say.
I would not leave any money to higher education organizations. I say this as someone with two higher degrees from Ivy League schools. They have plenty of resources already and have access to donors. I find the entire college system increasingly ridiculous as time goes on. Why do college professors need to re-invent the wheel for a select group of students when they can just craft the best lecture and then post it online for millions of students?

This is especially true for foundational classes. Why do we need ten thousand different professors at ten thousand different colleges preparing Introduction to Accounting when we can do something like hire the three best accounting teachers in the world to put together an entire lecture series that is then filmed and put on Youtube (or some other website), and then paired with educational material that's made free for everyone?

So much of money in higher ed these days goes to administration. I was looking at the directory of a college just last week and it's ludicrous - they have 8 people in an administrative department doing work that one person can do. It's just bureaucratic creep.

Nowizard
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Re: Where to leave money when we die

Post by Nowizard » Wed Feb 12, 2020 4:06 pm

You might consider that house somewhere warm now and leave it as an inheritance later.

Tim

afoolwithmoney
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Re: Where to leave money when we die

Post by afoolwithmoney » Wed Feb 12, 2020 4:09 pm

Consider giving it to a charity like Givewell, which gives to charities around the world that they have rigorously evaluated for effectiveness. Currently they are buying malaria nets for children in sub-Saharan Africa. The idea is to save as many lives as possible for each dollar they distribute. Here are their current top charities:

https://www.givewell.org/charities/top-charities

And I agree with the others, try to give while you are still alive so that you can enjoy seeing the fruit of your donations.

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dm200
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Re: Where to leave money when we die

Post by dm200 » Wed Feb 12, 2020 5:33 pm

Caduceus wrote:
Wed Feb 12, 2020 4:05 pm
Wricha wrote:
Wed Feb 12, 2020 8:02 am
Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations.
Lately I have been just observing local organizations/individuals and just giving them money anonymously. This is purely situational and does not address what to do with large amounts of money when one dies. So I am interested what other have to say.
I would not leave any money to higher education organizations. I say this as someone with two higher degrees from Ivy League schools. They have plenty of resources already and have access to donors. I find the entire college system increasingly ridiculous as time goes on. Why do college professors need to re-invent the wheel for a select group of students when they can just craft the best lecture and then post it online for millions of students?
This is especially true for foundational classes. Why do we need ten thousand different professors at ten thousand different colleges preparing Introduction to Accounting when we can do something like hire the three best accounting teachers in the world to put together an entire lecture series that is then filmed and put on Youtube (or some other website), and then paired with educational material that's made free for everyone?
So much of money in higher ed these days goes to administration. I was looking at the directory of a college just last week and it's ludicrous - they have 8 people in an administrative department doing work that one person can do. It's just bureaucratic creep.
What is your opinion of donations to fund scholarships?

WhiteMaxima
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Re: Where to leave money when we die

Post by WhiteMaxima » Wed Feb 12, 2020 5:34 pm

I will mega fund 529 fund for grandchildren.

veggivet
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Re: Where to leave money when we die

Post by veggivet » Wed Feb 12, 2020 5:37 pm

I plan on leaving everything to The Human Fund.
If you watch your pennies, your dollars will take care of themselves.

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dm200
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Re: Where to leave money when we die

Post by dm200 » Wed Feb 12, 2020 5:40 pm

veggivet wrote:
Wed Feb 12, 2020 5:37 pm
I plan on leaving everything to The Human Fund.
https://youtu.be/YwqWbfK9TXA

almostretired1965
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Re: Where to leave money when we die

Post by almostretired1965 » Wed Feb 12, 2020 5:43 pm

My wife and I are in a similar situation. Our wills are such that should one of us pass away, the other will get everything. After that the plan is for her half to go to three charities she has selected, whereas my half will go to my parents or my sister. Not sure what I will do if my current beneficiaries pre decease me; I'll worry about it when and if it happens.

Wricha
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Re: Where to leave money when we die

Post by Wricha » Wed Feb 12, 2020 5:54 pm

dm200 wrote:
Wed Feb 12, 2020 5:33 pm
Caduceus wrote:
Wed Feb 12, 2020 4:05 pm
Wricha wrote:
Wed Feb 12, 2020 8:02 am
Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations.
Lately I have been just observing local organizations/individuals and just giving them money anonymously. This is purely situational and does not address what to do with large amounts of money when one dies. So I am interested what other have to say.
I would not leave any money to higher education organizations. I say this as someone with two higher degrees from Ivy League schools. They have plenty of resources already and have access to donors. I find the entire college system increasingly ridiculous as time goes on. Why do college professors need to re-invent the wheel for a select group of students when they can just craft the best lecture and then post it online for millions of students?
This is especially true for foundational classes. Why do we need ten thousand different professors at ten thousand different colleges preparing Introduction to Accounting when we can do something like hire the three best accounting teachers in the world to put together an entire lecture series that is then filmed and put on Youtube (or some other website), and then paired with educational material that's made free for everyone?
So much of money in higher ed these days goes to administration. I was looking at the directory of a college just last week and it's ludicrous - they have 8 people in an administrative department doing work that one person can do. It's just bureaucratic creep.
What is your opinion of donations to fund scholarships?
It maybe alright for an individual one knows but to setup a scholarship for the university to administer......is foolish. This is the same university that allows a student with communication major to go into debt $80k and feel righteous when they should be prosecuted.

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dm200
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Re: Where to leave money when we die

Post by dm200 » Wed Feb 12, 2020 6:03 pm

It maybe alright for an individual one knows but to setup a scholarship for the university to administer......is foolish. This is the same university that allows a student with communication major to go into debt $80k and feel righteous when they should be prosecuted.
Yes - I do see your point about University administered scholarships.

Many organizations fund scholarships for just about any category of student for just about any field of study. My High School alumni fund sponsors/administers many, many such scholarships. Many individuals, families or groups there have set up memorial scholarships. The children of my late aunt and uncle funded an annual Agricultural education scholarship in their parents honor/memory since their parents were lifelong and successful farmers. Fraternal organizations commonly fund scholarships -- as do places of worship - and so on.

International educational scholarships can help make a big difference in many third world countries. Note that "education" is one of the "Three legs" initiative for this very, very worthy and deserving organization https://raisinghaiti.org/our-initiatives/

birnhamwood
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Re: Where to leave money when we die

Post by birnhamwood » Wed Feb 12, 2020 7:38 pm

I would trust these people to spend my money wisely!

https://en.wikipedia.org/wiki/Bill_%26_ ... Foundation

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dratkinson
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Re: Where to leave money when we die

Post by dratkinson » Wed Feb 12, 2020 8:17 pm

4ransom wrote:
Wed Feb 12, 2020 3:13 pm
I would cut out the middle man. Make a list of the best people you have known in your life who need or would put the gift to good use.
+1. My current solution. Make life easier for someone else, directly.


-1. Donations to schools. Been there, done that, never again.

--At my HS graduation, was the beneficiary of small science scholarship remembering a respected HS science teacher. In my 30s was able to begin repaying the gift by funding the same scholarship for new graduates. Did so for many years.

Long story short. School administrations change, old teachers are forgotten. New administration wanted to make a political statement and began using my gift for other than originally intended purpose. Spoke with my old science teacher's daughter and we agreed that new administration would need to use its own money to support its political causes. I stopped donating because I could not control administration.

I did receive a few "Thank you" letters from some of the recipients while I was giving, and that was nice. Hope all went on to rewarding careers.


--After college graduation, received a letter from school administration requesting donations to help deserving students. Since I worked multiple jobs in college, I made too much money and my request for financial aid---so I could focus more on school---was rejected. I didn't qualify as a "deserving student".

Long story short. I continued working multiple jobs and graduated college without debt. Figured any student who wants an education badly enough could do the same.


Bottom line. It's now against my religion to allow any school administration to use MY gift to take credit for supporting ITS political agenda. (And I'm not going to set up a trust in an attempt to circumvent a school administration, because I'd then need to worry about the political agenda of the trust administrator.)

It's much simpler to directly support someone or something you care about. The hard part is identifying them.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.

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BolderBoy
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Re: Where to leave money when we die

Post by BolderBoy » Wed Feb 12, 2020 8:27 pm

newcollegeman wrote:
Tue Feb 11, 2020 10:48 pm
Consider leaving some to the John C Bogle Center for Financial Literacy, to continue Jack’s good work. It has helped you & all of us. Worthy indeed!
I second this recommendation. Looking at the last 990 filed by the JCBCfFL, they get painfully few donations.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect

Wricha
Posts: 525
Joined: Sun Mar 25, 2012 10:33 am

Re: Where to leave money when we die

Post by Wricha » Wed Feb 12, 2020 9:22 pm

dm200 wrote:
Wed Feb 12, 2020 6:03 pm
It maybe alright for an individual one knows but to setup a scholarship for the university to administer......is foolish. This is the same university that allows a student with communication major to go into debt $80k and feel righteous when they should be prosecuted.
Yes - I do see your point about University administered scholarships.

Many organizations fund scholarships for just about any category of student for just about any field of study. My High School alumni fund sponsors/administers many, many such scholarships. Many individuals, families or groups there have set up memorial scholarships. The children of my late aunt and uncle funded an annual Agricultural education scholarship in their parents honor/memory since their parents were lifelong and successful farmers. Fraternal organizations commonly fund scholarships -- as do places of worship - and so on.

International educational scholarships can help make a big difference in many third world countries. Note that "education" is one of the "Three legs" initiative for this very, very worthy and deserving organization https://raisinghaiti.org/our-initiatives/
Funding institutions that are unwilling to except responsibility for the cost of their services is not money well spent. I think that the money people are using to fund scholarships would be more beneficial if they used it fund alternatives to higher eduction. Education is like any government agency they don’t go out of business, they were merely underfunded.

fyre4ce
Posts: 523
Joined: Sun Aug 06, 2017 11:29 am

Re: Where to leave money when we die

Post by fyre4ce » Wed Feb 12, 2020 9:31 pm

Doctors Without Borders

Tdubs
Posts: 924
Joined: Tue Apr 24, 2018 7:50 pm

Re: Where to leave money when we die

Post by Tdubs » Wed Feb 12, 2020 9:35 pm

There are so many worthy causes, but I recommend against a unique scholarship.

A) A pain to administer--someone has to pick the worthy candidate.

B) No one applies. A stunning lesson I learned as a professor, students don't bother applying for scholarships. My department had a full-year tuition scholarship and we had to beat the bushes to get students to apply, and I mean just put their name in. This is not an unusual problem, and I worked at a very blue-collar university. Lots of first generation students but clueless about opportunities for aid.

Financologist
Posts: 179
Joined: Wed Jan 01, 2020 11:16 pm

Re: Where to leave money when we die

Post by Financologist » Wed Feb 12, 2020 10:17 pm

If I am fortunate enough to be in your position someday, I will seek charitable opportunities that have a chance of providing lasting value to society. Early childhood education would be an excellent choice. But I would also look closely at supporting mental health research and refugee assistance programs.

Congrats on putting yourself in this position and good luck making the most of it.

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