Who chooses the charity? Inheritance is just one subset of the what happens to my money when I die? question. Maybe I'd like to give it to a charity, maybe my children. Do I have that right or should some of it be confiscated and used for something I likely wouldn't approve of explicitly? If so, how much?
We've just chosen the default case to be one's surviving relatives, in order of closeness, if a will doesn't specify otherwise.
Perhaps we should just change the default? Or raise the taxes? Making "inheritance illegal" doesn't really have a practical meaning.
Comments
Who chooses the charity? Inheritance is just one subset of the what happens to my money when I die? question. Maybe I'd like to give it to a charity, maybe my children. Do I have that right or should some of it be confiscated and used for something I likely wouldn't approve of explicitly? If so, how much?
We've just chosen the default case to be one's surviving relatives, in order of closeness, if a will doesn't specify otherwise.
Perhaps we should just change the default? Or raise the taxes? Making "inheritance illegal" doesn't really have a practical meaning.
Instead of charities, maybe require that the money be given to the government.
Moreover, there would be a limit on how much money you can give to your children while you are alive.
If you are poor, you would be able to get money to give to your children.
>Instead of charities, maybe require that the money be given to the government.
This is known as tax. We do this to inheritances already.
>Moreover, there would be a limit on how much money you can give to your children while you are alive.
Very well, I'll buy from my son this fabulous vintage 1976 El Camino for the modest sum of one-meeelion-dollars.