this post was submitted on 25 Mar 2025
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Isn't dying poor a good thing? I don't want to live poor, but you can't take it with you. I'd ideally spend my last dollar right before taking my last breath.
If you're unmarried and have no descendants sure. Although you're kind of screwing them over, these days, you dying is the only way your kids are ever going to be able to buy a house.
With inheritance taxes in the west not even then.
at least not without preparation, it's insane that you have to figure out inheritance in advance or your descendants get screwed. If you set things up properly then here you can inherit a primary residence tax free, but if you don't set things up then you're just shafted.
You're really not. You can do zero planning and as long as the total amount is <$14M, there are no taxes due.
One big difference, however, is pretax investments (IRA and 401K in the US). Sell or convert to Roth before you die and it won't be an issue at all. If everything is in regular taxable accounts, the beneficiaries even get a step up in basis, so they will only owe cap gains on growth after your death.
Any third rate tax person could figure that out.