You didn't finish the rest of the quote that says they apparently do have "other close" people of some sort: "We will pay for my wife's three godchildren, including graduate degrees, in any colleges they can get into...""We have no children or other close relatives."
The OP seems to be saying that they want up to the amount remaining after the conversion to go to charity and rest to go somewhere else they haven't decided on yet.
I wouldn't be worrying about taxes that these unknown people would have to pay. Obviously the charities don't have to pay. You should evaluate the tax brackets of the heir compared to yours. If you don't know who the heir is.....
I suspect other people may emerge, and that's what the OP is thinking, but the OP will have to comment.
Statistics: Posted by tibbitts — Mon Dec 16, 2024 8:13 am