Abstract

Intergenerational transfers are a core feature of the practice of private philanthropy. A substantial portion of the resources committed to charitable causes comes from transfers (either during life or at death) that continue to pay out after death. Indeed, much of the power of the charitable foundation lies in its ability to extend the life of an enterprise beyond the mortal existence of its initiating agents. Despite their prevalence, whether and in what way the instruments of intergenerational philanthropy can be justified is controversial. Many have argued that these instruments unfairly privilege the interests of the dead at the expense of the living and unborn. More recently, others have argued that intergenerational charitable transfers comport with the demands of distributive justice and are therefore legitimate. This paper contends that both of these perspectives fail to see the problem for what it is. Intergenerational charitable transfers may indeed promote justice in certain respects, but they do so at the cost of imposing the judgments of the dead onto the living. Respecting the wishes of the past conflicts with an interest in “generational sovereignty.” The paper concludes that properly accounting for this interest in generational sovereignty doesn’t require the abolition of intergenerational philanthropy. But it does tell in favor of a different regulatory orientation than most legal systems currently adopt.