Dying Rich Is A Bad Plan

One of the most common mistakes financially savvy people make is dying with too much money. They fail to come up with a long-term spending and distribution plan. To some extent, we fall back on familiar patterns. If we have enough money to do what we want to do, and we do not feel as if we are depleting our savings, we do not give sufficient thought to gifting and distribution planning. But we should!

Without a thoughtful spending and distribution plan, you may accumulate too much money. And after your death, that money won’t all go to your kids. Uncle Sam will take a huge cut—especially after the SECURE Act. Your children, who may be in their sixties (if not older) when you die, will inherit what is left after taxes.