"Reills. E'en the name makes me shudder. That there is unholy ground, cursed by most gods. Not even the demons and devils and the incarnations o' evil dare step foot there. Reills. You know me, I think money likes it in my pocket instead of wherever else it is. But, and I've heard rumors that say this, if theirs treasure on that ground, it ain't going in my pocket on pain o' death."
-Old Gerald, man in the pub.
A possible answer to what happens to spells when a mage dies. If the spell is strong enough, say and enchantment or other permenant effect, part of the mages spirit may become lodged in the magic. It may be a way for items to gain some kind of intelligence, but a mage who has knowledge of this fact would be very hesitant about enchanting anyone or thing. He might have other plans for his afterlife than counting the change in your bag of holding.
Preists, I think, would have this sort of thing covered.