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Posted By: Andrew

Frank,

I understand insurance policies can create an audit trail. I get it. As you say, you can get "popped" for the tax if you have items scheduled on an insurance policy and they are "gone" when you die. Someone will need to explain what happened to the asset. Was it sold? Was it gifted? Was there a casualty loss? The estate will need to explain what happened. I get it. What I do not get is your repeated posts in this public forum advising assets to be left uninsured as a means to avoid payment of income tax if the asset is later sold. You are dangerously close to advocating tax evasion with your previous posts.

Andrew