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An electoral reform introducing proportional representation in place of two-member districts (a Pinochet bequest which favoured the centre-right) was overdue.
Among the bequest, which also included old master drawing and fine paintings, were a group of 125 Japanese woodblock prints, from which the present exhibition is drawn.
Admission remains free, a condition of the Iveagh bequest, which was the most valuable gift of paintings to the nation of the 20th century.
Worse for the library, the Rebozo bequest, which could transform its operations, appears likely to remain in legal limbo for some time.
Still, even colleges dream of this kind of bequest, which dwarfs the endowments of that of Sarah Lawrence, for example, which the College Board lists at $66 million.
His personal assistant, Zelda la Grange, dubbed "Mandela's rock", was not present to receive her bequest, which was among about 22m rand being distributed.
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Bequests, which made up 7.8percentt of contributions, provided $16 billion last year, down 0.7percentt.
Serota said the donation was up there with the great bequests which led to the establishment of the Tate, by Henry Tate at the end of the 19th century, and the Courtauld Institute of Art, by Samuel Courtauld in the 1930s and 1940s.
Parents can transfer resources to their children in two ways: First, through education investments, which have heterogeneous and stochastic returns for children, and, second, through financial bequests, which yield a safe, uniform return.
The impact of a volatile, falling stock market was reflected in the amount of giving derived from bequests, which fell 7.1percentt adjusted for inflation to $16.33 billion last year, and in a 2.3percentt inflation-adjusted drop in giving to educational institutions, which tend to receive a lot of appreciated stock as gifts.
For instance, community foundations can provide information about estate planning and bequests, which can be a more significant tax incentive and legacy-builder and can have a greater impact on your favorite cause.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com