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Aim to die broke. Give to your beneficiaries before you die; it’s more fun and useful. Spend it all. Your last check should go to the funeral home and it should

Aim to die broke. Give to your beneficiaries before you die; it’s more fun and useful. Spend it all. Your last check should go to the funeral home and it should bounce No.

lulzury 5y ago
Can you please elaborate? This is not reddit. Your comment adds nothing meaningful to the conversation. And now you have made me do the same.
- jakear 5y ago
  > Your last check should go to the funeral home and it should bounce Not GP, but this line in particular is dangerous -- that funeral home will do everything they can to harass whoever they can to get their money. Is that how you want to be remembered by your next of kin? Speaking from experience (homicide of a college student, so no blame for not paying), homes will charge tens of thousands just to release the body.
- lr4444lr 5y ago
  Lots of reasons. A basic one: the government (US) is gonna tax the assets you give to other people on some part of the transfer if it doesn't happen through inheritance, at which the beneficiary would otherwise get a stepped up cost basis.
colechristensen 5y ago
To be fair it is a decent estate planning strategy to give the right amount away before not after you die. This also saves your heirs from a certain amount of fighting which tends to happen. I don’t know about being completely broke and timing that is quite hard. It’s the kind of thing you want to talk to your lawyer about though not the internet.
ggm 5y ago
I too came to criticise this line, on the basis it incurs a cost on others after you die, but it has merit: Let others decide how lavish to make your funeral, including leaving your body out for dogs to eat: you don't need to care, so why spend? if you do chose to pay, make it as cheap as possible within the constraints of your circumstances. Leaving your body to science is cheap and useful.
adamredwoods 5y ago
This is very situational. My mother died penniless. We had to pool our money to assist her in a nursing home. Those were very dark times.

Aim to die broke. Give to your beneficiaries before you die; it’s more fun and useful. Spend it all. Your last check should go to the funeral home and it should bounce No.

lulzury 5y ago

Can you please elaborate? This is not reddit. Your comment adds nothing meaningful to the conversation. And now you have made me do the same.

jakear 5y ago
> Your last check should go to the funeral home and it should bounce Not GP, but this line in particular is dangerous -- that funeral home will do everything they can to harass whoever they can to get their money. Is that how you want to be remembered by your next of kin? Speaking from experience (homicide of a college student, so no blame for not paying), homes will charge tens of thousands just to release the body.
lr4444lr 5y ago
Lots of reasons. A basic one: the government (US) is gonna tax the assets you give to other people on some part of the transfer if it doesn't happen through inheritance, at which the beneficiary would otherwise get a stepped up cost basis.

colechristensen 5y ago

To be fair it is a decent estate planning strategy to give the right amount away before not after you die. This also saves your heirs from a certain amount of fighting which tends to happen. I don’t know about being completely broke and timing that is quite hard. It’s the kind of thing you want to talk to your lawyer about though not the internet.

ggm 5y ago

I too came to criticise this line, on the basis it incurs a cost on others after you die, but it has merit: Let others decide how lavish to make your funeral, including leaving your body out for dogs to eat: you don't need to care, so why spend? if you do chose to pay, make it as cheap as possible within the constraints of your circumstances. Leaving your body to science is cheap and useful.

adamredwoods 5y ago

This is very situational. My mother died penniless. We had to pool our money to assist her in a nursing home. Those were very dark times.