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By Jason A. DeJean, CFO, PFP, EPC, CPCA
What’s going to happen to me when I die??
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All these plans can name a beneficiary and avoid probate. What they don’t avoid is tax. When someone passes away all assets are deemed to have been sold and disposed of. If those assets are left to a spouse, then taxes can be avoided. An important distinction here is that this is an income tax payable on the final tax return, it is unrelated to fee charged for probating the will.