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Considerations in Making Financial Donations

Your physician has just told you that you have a fatal and incurable illness. You have just eight weeks to live. On returning home from the physician's office, you decide not to go berserk today (perhaps tomorrow), at least not until you open your mail. There is an envelope with a strange return address on it, foreign stamps in fact. Opening it first, you learn that you have inherited several million dollars, being the last living heir to a European fortune. A quick calculation shows that you cannot possibly spend it all in eight weeks. Then you decide you do not want to give it either to friends or relatives?your closest friend recently offended you and your closest relative died three years ago. Use the six basic policy elements to decide how you want to dispose of the money.

1.What purpose or goal do you wish to achieve in giving this gift?
2. Given those goals, who is entitled to the gift?
3. In what form would the gift be given, assuming you could easily transform it into
cash or some other gift?
4. Whom will you select to deliver it?
5. Do you want to give the whole gift at once or just the interest earned from principal,
or do you wish others to help with financing by putting up some of their own
6. If the gift is given in cash, will recipient(s) spend it for the purpose intended (i.e.,
interactions in this case between goals and form of benefit)?

Ideas are generated.

Solution Preview

Answering this question is purely an 'inside' job, whereas it reflects our personal self-worth, values and footprint of life. We come into the world with nothing and leave with nothing and the rest is the image or half-life of what we leave behind. If we are to go, for certain, then the choice of what we are to do with our time is subjective. Personally, using my belief in our health, from a body, mind and spirit perspective, I feel that we DO have power over our health, well-being and longevity. There are simple remedies that we can use and methodology we can practice to enhance our health and life, even if it is only for 56 days. Some solutions are outside the ...

Solution Summary

Financial issues to consider when delegating large sums of money to family and charities. Paying out the principal or interest and where to give money is the consideration of this piece.