Timeline for Donating money to scientific research after my death
Current License: CC BY-SA 3.0
14 events
| when toggle format | what | by | license | comment | |
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| Feb 12, 2018 at 16:53 | comment | added | Martin Bonner supports Monica | @user71659 : Ah-ha! Yes, that would work in E&W. | |
| Feb 12, 2018 at 16:50 | comment | added | user71659 | @MartinBonner An irrevocable bequest is not much different from a loan. It is a promissory note to pay X in exchange for naming rights or whatever. It's just that its only due after death. Compare this to a loan continues to be a liability to your estate after death. | |
| Feb 12, 2018 at 10:24 | comment | added | Martin Bonner supports Monica | @user71659 : I have not previously encountered the concept of an irrevocable bequest. I suspect it would be very hard to set up such a thing in (for example) England and Wales (and would vary by state in the US). | |
| Feb 9, 2018 at 21:37 | comment | added | Wolfgang Bangerth | How much money you endow is up to you. The school may suggest to do something else with the money if it's a small sum, but I'm sure that in some areas where the cost of doing research is not high (math, liberal arts, cosmology), there are plenty of chairs with an endowment of $1M or less. Even one million gives you $50k to play with per year -- a lot of good research can be done with that. | |
| Feb 9, 2018 at 17:49 | comment | added | user71659 | @DonQuiKong It's called a bequest. Conditions like who should be the initial holder are written into an agreement, then the agreement is added to the will, so the transfer of assets only occurs after death. Universities are often willing to treat an irrevocable bequest as a donation that has already occurred, e.g. naming buildings while the donor is alive. | |
| Feb 9, 2018 at 17:41 | comment | added | Thomas Steinke | @RichardErickson The $5 million figure was for Harvard computer science, but I can't find the reference anymore. I think it will vary widely even within a single university. | |
| Feb 9, 2018 at 13:50 | comment | added | DonQuiKong | @DavidRicherby it does talk about putting the professors into the will and the title says after death. But you're right, not explicitly. | |
| Feb 9, 2018 at 13:22 | comment | added | David Richerby | @DonQuiKong Actually, the question doesn't explicitly say that the money would only become available after the asker's death. It would certainly make sense to donate a good chunk of the money before dying. | |
| Feb 9, 2018 at 13:21 | comment | added | Richard Erickson | FYI, the cost varies from school to school. At a smaller school, you might get more bang for your buck. Here's one from a few years ago that cost $2 million. | |
| Feb 9, 2018 at 12:48 | comment | added | DonQuiKong | @DavidRicherby but not what op asked ;) | |
| Feb 9, 2018 at 11:31 | comment | added | David Richerby | @DonQuiKong Or if you donate the money before you actually die, which is what usually happens. | |
| Feb 9, 2018 at 9:19 | comment | added | DonQuiKong | “Potentially you could have some limited input into selecting the inaugural holder of the chair.“ sure, if you can predict the time of your death. | |
| Feb 9, 2018 at 5:46 | history | edited | Thomas Steinke | CC BY-SA 3.0 |
deleted 3 characters in body
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| Feb 9, 2018 at 5:22 | history | answered | Thomas Steinke | CC BY-SA 3.0 |