"#1... nope. Keep every penny you have (save doing some good with it yourself) until they take it from you due to incompetence. Even then, stipulate where it is to go. Don't want any incompetent bastards getting yer hard earned coin"

I have two wealthy brothers (unlike me) in their late 70s.

One chose the path I suggested and has seen the benefits.

My other brother is a real miser, and his kids actually dislike him for it. One of his kids told me "I resent him because there were really tough times in our lives where he could have helped, and he didn't. We know we will get all his money when he dies, but he could have enjoyed seeing the good and good will it created when he was alive".

I have also seen real tensions develop in many families because of money left when parents die.