[Link] Caplan asks for help optimizing his will.

Jayson_Virissimo

Bryan Caplan of Econlog asks his readers how to improve his will (given a few constraints) in light of the principles of optimal philanthropy. His current draft reads:

I give and bequeath to whatever charity is currently ranked #1 by GiveWell, the sum of $100,000 adjusted for inflation since 2013 using the U.S. Consumer Price Index, or 10% of the total value of my estate excluding our primary residence, whichever is smaller. If GiveWell no longer exists, I give and bequeath the same sum to another charity, selected by my wife and children, dedicated to helping the deserving poor in the Third World in a maximally cost-effective manner. I request that my wife and children consult my friends Robin Hanson, Alexander Tabarrok, Fabio Rojas, James Schneider, Michael Huemer, William Dickens, and Jason Brennan to help them select the most cost-effective charity with this mission. If possible, funding for this bequest should come from my tax-deferred 403(b) retirement accounts.

The full blog post can be found here.

Robin Hanson responds:

I fear "the Third World" might not be a robust reference, and that GiveWell will no longer exist. You might pick some "ex ante % chance that I'd have died by now", such as 25%, and give the money away when you are at an age where you've suffered that % chance. This could ensure at 75% chance that you'll give the money away yourself.

Bryan Caplan of Econlog asks his readers how to improve his will (given a few constraints) in light of the principles of optimal philanthropy. His current draft reads:

I give and bequeath to whatever charity is currently ranked #1 by GiveWell, the sum of $100,000 adjusted for inflation since 2013 using the U.S. Consumer Price Index, or 10% of the total value of my estate excluding our primary residence, whichever is smaller. If GiveWell no longer exists, I give and bequeath the same sum to another charity, selected by my wife and children, dedicated to helping the deserving poor in the Third World in a maximally cost-effective manner. I request that my wife and children consult my friends Robin Hanson, Alexander Tabarrok, Fabio Rojas, James Schneider, Michael Huemer, William Dickens, and Jason Brennan to help them select the most cost-effective charity with this mission. If possible, funding for this bequest should come from my tax-deferred 403(b) retirement accounts.

The full blog post can be found here.

Robin Hanson responds:

I fear "the Third World" might not be a robust reference, and that GiveWell will no longer exist. You might pick some "ex ante % chance that I'd have died by now", such as 25%, and give the money away when you are at an age where you've suffered that % chance. This could ensure at 75% chance that you'll give the money away yourself.

I think the best way is to regularly update your will. Especially if you expect your estate to be over $1M excluding primary residence.

Well, you should update your will if your priorities change. For all else, you can specify what you want using "if then else" clauses. Considering the over $1M estate, I'd expect the majority of active LW'ers to currently or eventually (at the time of death) fall in this bracket.

EDIT: The following is a joke: (I'm active because of that expectation, don't ruin it o.o)

6

[Link] Caplan asks for help optimizing his will.

6

6

6

[Link] Caplan asks for help optimizing his will.

6

6