Even if you’ve put together the most rock-solid financial plan possible, it could be that after you’re gone, things won’t necessarily go the way that you intended them to. This can be particularly true if a loved one doesn’t share the same monetary values as you do.
For many individuals, the transfer of wealth from one generation to the next can seem ominous. And why wouldn’t it, since the majority of wealth transfer plans fail?
In other cases, people just simply put off this type of planning altogether – until it becomes too late.
Either way, it often ends up that the bulk of your hard-earned assets will go straight into Uncle Sam’s pocket.