An academic exercise.

E

EHH

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An academic exercise to mess our weekend.

Let us say a person 'Mr.X' is so pissed off (for whatever reason) with everybody in this world that he wants nobody, absolutely nobody should get even a nickel in cash or in kind out of his assets after he dies. He has to take care of his expenses while alive and legally make his wealth vanish from the face of earth after he's gone.

How can he achieve the same ?

Post your creative thoughts. :eek:
 
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EHH said:
An academic exercise to mess our weekend.

Let us say a person 'Mr.X' is so pissed off (for whatever reason) with everybody in this world that he wants nobody, absolutely nobody should get even a nickel in cash or in kind out of his assets after he dies. He has to take care of his expenses while alive and legally make his wealth vanish from the face of earth after he's gone.

How can he achieve the same ?

Post your creative thoughts. :eek:
Click to expand...
A very interesting question. One thing worth doing is to maybe set all the physical wealth (real assets like house, and belongings) to be destroyed using explosives after Mr. X dies. Mr. X can hire demolition experts for that.

The problem is that Mr. X cannot in any way destroy any of his savings in bank - so he can convert it to cash (notes) - and put it together with his assets, and have it be burnt after he dies. It is important to make sure that he does not own any land or gold or anything else that cannot be realistically destroyed. So he must sell all his indestructible assets and get to cash - which can be destroyed.

There could be legal implications though, as the government probably sees it as illegal to burn cash literally :D .
 
EHH said:
An academic exercise to mess our weekend.

Let us say a person 'Mr.X' is so pissed off (for whatever reason) with everybody in this world that he wants nobody, absolutely nobody should get even a nickel in cash or in kind out of his assets after he dies. He has to take care of his expenses while alive and legally make his wealth vanish from the face of earth after he's gone.

How can he achieve the same ?

Post your creative thoughts. :eek:
Click to expand...
Just get a lot of debt from friends, family, banks etc and waste that money before you die, after the person dies there will be no wealth only debt. Isi bahane marne k bad log yaad bhi kar lenge .
 
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Neotheone said:
A very interesting question. One thing worth doing is to maybe set all the physical wealth (real assets like house, and belongings) to be destroyed using explosives after Mr. X dies. Mr. X can hire demolition experts for that.

The problem is that Mr. X cannot in any way destroy any of his savings in bank - so he can convert it to cash (notes) - and put it together with his assets, and have it be burnt after he dies. It is important to make sure that he does not own any land or gold or anything else that cannot be realistically destroyed. So he must sell all his indestructible assets and get to cash - which can be destroyed.

There could be legal implications though, as the government probably sees it as illegal to burn cash literally :D .
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No illegal options. Mr.X is a law abiding citizen.
NikhilSingh25 said:
Just get a lot of debt from friends, family, banks etc and waste that money before you die, after the person dies there will be no wealth only debt. Isi bahane marne k bad log yaad bhi kar lenge .
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Take loans and travel the world in charter planes, till his debt is more than assets.
But he has to manage his daily and medical expenses till he is alive.

Nearest solution could be to make a 'Will' instructing to distribute Re.1 each to fellow citizens. A criteria can be specified for eligibility.
Broader idea is, nobody should enjoy Mr.X's hard earned wealth.

But the courts might rule w.r.t. 'Will' that Mr.X was most probably insane and out of his mind in his last days.
 
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From a psychological perspective, the person's outlandish worries may vanish with a few sessions of therapy. But a prevention would sway us away from approaching the problem at hand.

a) Your statement says "After he dies". It doesn't clarify if he is okay with giving off his property to somebody else while alive. He can simply give off all his property to some charity and become a monk.

If that's not the case, we can approach this problem from another angle.

b) You mention "He needs his wealth to vanish when he dies". My question is, why wait for the death? My second angle explores this possibility.

i) Mr.X needs to stop earning with immediate effect. Unless he is a millionaire/billionaire, he can exhaust all his possession should he wish. To exhaust all his property, he could shift to five-star luxury hotels and make them his residence. He could take trips around the world, as many as as he can and/or as frequently as he wants. These two things would ensure that he disposes his wealth in a continuous manner.

ii) Once he reaches to the point his bank balance is 0, he can start using the cash in hand i.e whatever money he has in his home. When this is no longer an option i.e. when he has literally zero cash to his name, he can start selling his belongings one by one i.e. TV, Sofa, Refrigerator and everything under the roof.

iii) Finally, he can sell off his home and move to some 2-3 star hotel once again. When exhausted, he can become an ascetic where he would not have anything of his own. At this point, he can't lose anything because he has nothing of his own.

c) If you really mean what you write, i.e. he has to take care of his expenses while alive, he can do this:

Sell off his belongings and shift to some shelter home where he actually owns nothing. He would have roof over his head and wealth at his hands to do exactly what you mention i.e. take care of his expenses. He can do the calculation himself to see how long it would take him to exhaust what he has.

If none of this works for him, Mr.X needs to question himself why exactly he wants his wealth to himself after his death. Being a little less selfish would make a world of difference.
 
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EHH said:
An academic exercise to mess our weekend.

Let us say a person 'Mr.X' is so pissed off (for whatever reason) with everybody in this world that he wants nobody, absolutely nobody should get even a nickel in cash or in kind out of his assets after he dies. He has to take care of his expenses while alive and legally make his wealth vanish from the face of earth after he's gone.

How can he achieve the same ?

Post your creative thoughts. :eek:
Click to expand...
The design of human community is as such, anybody, even a bacteria when departs from earth, their belongings will always be taken/enjoyed by other living beings, nobody can perfect it like the creation have done, and nobody can disrupt such an arrangement, that's how it has been and it will be? so there is no point in pondering about it or wasting the present time for a future event...

Its all about living NOW happily, than pondering about the future, the wise way of living is don't become a billionaire, Know what you really want from life?? and live it happily.. and leave the rest to the almighty... :)

Giving Love and Gifts to others makes the Present Moment more emotionally happy!! :) that is the sweetest point of life!!

Surprising other human being when in need with what you have gives enormous pleasure and emotional connection with the universe!! which is unexplainable?? but yet true!! and Universe showers its rewards too for such ascended beings. :)
 
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eTernity2021 said:
The design of human community is as such, anybody, even a bacteria when departs from earth, their belongings will always be taken/enjoyed by other living beings, nobody can perfect it like the creation have done, and nobody can disrupt such an arrangement, that's how it has been and it will be? so there is no point in pondering about it or wasting the present time for a future event...

Its all about living NOW happily, than pondering about the future, the wise way of living is don't become a billionaire, Know what you really want from life?? and live it happily.. and leave the rest to the almighty... :)
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Fully agree with you but this is an academic problem, not a factual or philosophical one. The answer has to satisfy the conditions set by the question. And Mr.X is nuts. ;)
 
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Simply spend this "imaginary" wealth until nothing substantial remains.
Unless we are talking about the amount of wealth that cant be spent.
 
Mr X can draft a "will" which contains instructions to destroyed his wealth after his death.
Or
Buy Bitcoin, store it in the hard drive with encryption.
 
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EHH said:
No illegal options. Mr.X is a law abiding citizen.

Take loans and travel the world in charter planes, till his debt is more than assets.
But he has to manage his daily and medical expenses till he is alive.

Nearest solution could be to make a 'Will' instructing to distribute Re.1 each to fellow citizens. A criteria can be specified for eligibility.
Broader idea is, nobody should enjoy Mr.X's hard earned wealth.

But the courts might rule w.r.t. 'Will' that Mr.X was most probably insane and out of his mind in his last days.
Click to expand...
Then just leave all that cash in an underground pit such that no one knows. Nature will do its job :D
 
dissel said:
then 'Into The Wild' like ending is good to go.
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I'd disagree. I don't know your perspective on this but I think people rate this movie for all the wrong reasons. Supertramp is neither an example nor a hero. I don't intend pity when I write this but he needed help. A lot of it. Therapy would have gone a long way.

He is an example of what happens when you leave your wound untreated and let it take charge. This movie is a reminder that people need to seek help when they can't help themselves.

If people rate it 10/10 purely as a work of fiction, no issues I guess. But this was a non-fiction and people can mistakenly idealize this. People love to idealize remarkable things with complete disregard for the aspect that makes it remarkable.

For example, Freedom 251 was a remarkable scam.
 
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There is something called reverse mortgage. https://www.bankrate.com/mortgages/reverse-mortgage-guide/


You give your property to an insurer. They pay you until you die.


If you don't have property, but liquid assets, you buy an annuity, with an option to receive income until death.
Neotheone said:
convert it to cash (notes) - and put it together with his assets, and have it be burnt after he dies
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Burning cash increases the value of the currency. So in effect it benefits the people with savings in the country.

Edit : Calculations. If the guy has 50 crores and born in 1980, he can get a life long pension of 27 lakhs/month at https://www.sbilife.co.in/en/individual-life-insurance/pension/smart-annuity-plus , with no return of 50 crores at the time of death.
 
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kiran6680 said:
Burning cash increases the value of the currency. So in effect it benefits the people with savings in the country.
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Fair point in theory but the practical impact of even 10000 crore rupees burnt would be immaterial on a monetary base of 250 lakh crore or so. Also it doesn't really impact the demand and supply of money because RBI will supply banks with cash by printing it whenever necessary
 
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Neotheone said:
Fair point in theory but the practical impact of even 10000 crore rupees burnt would be immaterial on a monetary base of 250 lakh crore or so. Also it doesn't really impact the demand and supply of money because RBI will supply banks with cash by printing it whenever necessary
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Yeah, just academic .
 
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