Leaving estate to charity

[Anonymous]

Why cannot you leave a small portion of your money to nieces and nephews?

[Anonymous]

I have two kids who will receive everything. But I have played with the idea of small bequests to a couple of nieces. Unfortunately, I have many nieces and nephews so I am wondering if leaving to just a couple would be divisive.

[Anonymous]

Anonymous wrote:While a lot can happen in the next 20+ years, there's the possibility that my partner and I could leave an estate worth a few million dollars. We don't have children, and while we are on good terms with our six nieces and nephews, we aren't particularly close. Plus, they all have secure careers and don't really "need" our money. So we are considering changing our wills and leaving most of our assets to charity rather than keeping it within the family. Wondering if anyone else is in this situation? If so, did you have a conversation with your siblings/nieces/nephews to let them know, or are you keeping that information private?

Good thought.. It's your money. However, none of the recipients of your charity will know who you are and neither care nor talk about you in a good way (or bad way). If not you, someone else would have met their need.

On the other hand, any money you give your siblings and or nieces will always be remembered, potentially for a long time.

To be more effective, why not 'adopt' some low SES kids and pay for their college or other such personal charity vs. giving money after your death to a non-profit where most of your money will go towards salary and bonus.

[Anonymous]

Childfree here and we are leaving our estate 12m+ to charity.

[Anonymous]

Don't leave it to charity, unless you can find one you are extremely confident will use the money judiciously. Most charities will just waste it on frivolous stuff and it won't actually benefit people. Charities are mostly inefficient and wasteful organizations that provide salaries for lazy people who can't hold a private sector job. Charities are a scams and they have no incentive to solve the problems they allegedly care about because solving the issue would put them out of business. Don't fall for this ruse because most charities exist solely to consume resources from other productive members of society, without helping anyone. Leave it to family members instead.

[Anonymous]

Right. You van't make this claim without a citation.

Many credible organizations rate charities and there are many good charities. Choose one or more good one!

[Anonymous]

I had an aunt who was childless. She was my mother's sister and in her last years, I was her caretaker (i.e. handled finances and worked with the assisted living facility). I always knew she would leave her estate to me and my brother. Our own parents had nothing to leave, so her small inheritance made a big difference for my brother, and basically funded my two kids' college tuitions. She didn't leave a penny to charity and we are grateful.

[Anonymous]

Anonymous wrote:Don't leave it to charity, unless you can find one you are extremely confident will use the money judiciously. Most charities will just waste it on frivolous stuff and it won't actually benefit people. Charities are mostly inefficient and wasteful organizations that provide salaries for lazy people who can't hold a private sector job. Charities are a scams and they have no incentive to solve the problems they allegedly care about because solving the issue would put them out of business. Don't fall for this ruse because most charities exist solely to consume resources from other productive members of society, without helping anyone. Leave it to family members instead.

And some family members survive by consuming resources from other productive members of society without helping anyone. Leave all to charity!

[Anonymous]

I am not going to have children and have one nephew that I am reasonably close with, insofar as one can be with a 12 year old boy. Who knows what will happen in the future but the general plan in my mind is that he will inherit the bulk of my estate. I may still make a few small bequests to this and that.

You will know better than any of us you feel, deep inside, any real family connections to your nieces and nephews and whether that justifies leaving then anything or not. But I also agree with some of the comments about charities not always being what they seem. A few thoughts for you:

1. Make sure you know your charities extremely well and that they won't do things you don't want them to do with the money. You can't control how charities change over time after you die and doubtlessly there would be plenty of donors who'd gladly change their minds had they known what was to happen in the decade after their deaths.

2. Did any of your wealth derive from inheritances from your parents? If so, perhaps consider setting side that money for inheritances to your nieces and nephews.

3. Even if your family members are established and well off, it is still fun to receive an unexpected inheritance. Seems like you are well off enough to leave $100-200k to each niece/nephew with the instructions to go and enjoy the money, and the rest can go to a carefully selected charity.

[Anonymous]

My husband's childless great-uncle left the majority of his estate to charities, but left small amounts to nieces/nephews and great-nieces/nephews (~$2K each to the great-nieces/nephews). My husband used his as a motivator to get back into playing tennis (funding lessons and league membership), a hobby he'd shared with his great-uncle but hadn't done regularly as an adult. Years later, tennis is a significant part of his life, and he thinks fondly of his great-uncle and the effects of that gift. Even a relatively small bequest can build a nice connection and memories. The charity donations also had some significant and tangible results that the family is proud of, too.

[Anonymous]

I think you should tell your nieces and nephews you are planning to leave them some of your money, so that when you're old and need help, they will be willing to do at least the minimum for your care.

Head to the Eldercare forum to understand why simply hiring people or checking yourself into a facility doesn't guarantee protection against elder abuse and general lack of care. These people and institutions have to know there are family members in the background who can check in at any moment.

After those costs, you could well end up with nothing to bequeath anyway...

[Anonymous]

Are you close to their parents? Assuming the parents don’t need the money I’d likely give a third to my nieces and nephews and the rest to charity. If I wasn’t close it would all go to charity.

[Anonymous]

I don't understand why anyone here is insisting that OP should be leaving this money to family instead of to charities. Why do you care? Or do you all just happen to have wealthy childless aunts and uncles and think you might be the nieces and nephews who stand to miss out?

[Anonymous]

Anonymous wrote:My husband's childless great-uncle left the majority of his estate to charities, but left small amounts to nieces/nephews and great-nieces/nephews (~$2K each to the great-nieces/nephews). My husband used his as a motivator to get back into playing tennis (funding lessons and league membership), a hobby he'd shared with his great-uncle but hadn't done regularly as an adult. Years later, tennis is a significant part of his life, and he thinks fondly of his great-uncle and the effects of that gift. Even a relatively small bequest can build a nice connection and memories. The charity donations also had some significant and tangible results that the family is proud of, too.

This is very cute but I think the best part of this story is the relationship your husband and his great-uncle shared.

[Anonymous]

Anonymous wrote:I don't understand why anyone here is insisting that OP should be leaving this money to family instead of to charities. Why do you care? Or do you all just happen to have wealthy childless aunts and uncles and think you might be the nieces and nephews who stand to miss out?

Blood is thicker than water.

Many of us are skeptical of quite a few charities. PPs made good observations about how charities are often wasteful with money, don't use it for what it's earmarked for, or ideologies change to become quite different.