I’m 76 years old and have $15 million with no close family to speak of. How should my riches be spread when I’m gone?

The problem is that she doesn’t have anyone close enough in her life that she feels she can simply leave it all to.

She has options, though. Friends, former colleagues or distant relatives could all factor into her decision. She could also leave money to charities or other organizations she cares about. Or she could start moving some of the money while she’s still alive, when she can actually see what it does.

The tricky part is figuring out how to put all of that in place so there are fewer surprises later.

Mapping out your wishes

Without children or a spouse to leave the money to, Barb has some decisions to make about where she wants it to go.

If she wants to leave money to important people in her life, she’ll need to explicitly spell out those wishes in her estate plan. She might want to help a godchild buy a first home, set aside money for a friend’s grandchildren or provide a financial safety net for an aging sibling.

But there are tax questions, too. For someone who dies in 2026, the federal estate tax basic exclusion is $15 million, which puts Barb’s estate right around that line. Her actual tax situation would depend on the details of what she owns, any taxable gifts she has made and where she lives. Some states also have their own estate or inheritance taxes.

A plan made at 76 may look different a few years from now. A friend could move away or die, Barb’s finances could change or she could simply change her mind about where she wants the money to go. Regardless, she’ll want to revisit the plan when something significant changes and make sure someone she trusts knows where to find the will and other important documents.

Giving it away now is an option

If Barb knows she has more than enough to cover her own expenses, health care and whatever else the next couple decades might bring, she could start giving some of it away now.

After all, there can be something deeply satisfying about seeing where your money goes while you’re still here, whether that’s helping a charity or helping a close friend.

A donor-advised fund (DAF) is one possible option. She could put money into the fund and recommend that it be given to charities she chooses over time. She gives up control of the money once it goes into the fund, though, so it’s not something she can dip back into if she changes her mind or needs the cash.

This could be useful if she knows she wants to give to charity but hasn’t decided exactly where yet.

The IRA is a little different. As someone approaching 80, Barb is old enough to make qualified charitable distributions (QCDs) directly from an IRA. When the rules are met, the money goes straight to an eligible charity without being included in her taxable income, and the distribution can count toward her required minimum distribution (RMDs).

Rather than taking the money out herself and then making a donation, she may be able to send some of it directly to charity and get the tax treatment that comes with a QCD.

Before she starts giving away large amounts of money, she’ll need to make sure she’s still got enough for herself. Housing, health care, long-term care and everyday expenses can add up, and having $15 million today doesn’t mean she knows exactly what she’ll need 10 or 20 years from now.

She doesn’t have to give away a huge amount all at once. She could start with a smaller gift and see how it feels before deciding what to do with the rest.

A will is only part of the plan

Retirement accounts and life insurance policies usually have their own beneficiary forms. The person or organization named there can receive the money directly, outside of the will, so Barb would need to make sure those forms match the rest of her estate plan. An old beneficiary designation can create a problem even when the will itself is perfectly up to date.