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This is a place to share greentexts and witness the confounding life of Anon. If you're new to the Greentext community, think of it as a sort of zoo with Anon as the main attraction.

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Early_To_Risa@sh.itjust.works

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Anon calls in for financial advice (sh.itjust.works)

submitted 4 days ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] sugar_in_your_tea@sh.itjust.works 4 points 3 days ago

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.