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My grandparents gave an award for pulp and paper science that is still given out. It’s tiny now, but a full ride for the student. At one point they - the schoo

• ggm 3y ago
  There's a point in the life of any endowment below the gigantic where it's rate of "return" (judged in the wide, not just financially) feels to drop below the hassle of maintaining it. I think some economies have laws against "in perpetuity" finances. Anthony Trollope based "the warden" around the consequences of a bequest in medaevil times carried into Victorian English Anglican church politics. If the student(s) still value it, I think it's doing its job. Good on your grandparents!
  • dmoy 3y ago
    > some economies have laws against "in perpetuity" finances. Indeed, but it's a bit different. A will or trust is limited to some period - say 21 years after the latest beneficiary. But there's a difference between a trust with very specific rules, and a general endowment. Doesn't seem to work out the same way. Also, there's a lot of variance in state law. (Side note, did you know that SPY is a trust that will dissolve after certain people die? In the early days of ETFs they didn't... bother figuring out the right legal structure, so they just used a unit investment trust, tied to a dozen or so specific people. So maybe have an exit plan for SPY by like.. 2090-ish, I forget)