Harry Gross: A Way to Avoid This Tax

Dear Harry: I have $75,000 in a 401(k) that I would like to leave to my son. Someone told me that he'd have to pay the taxes on it, and I don't want that. Would it be better to roll it over to an IRA? Would the same tax be waiting for him if I make the switch? I'm also worried about that money. It used to be worth $81,000. I'm 67 years old now and I'll have to start depleting the money in three years, but I don't want my son to get it while I'm alive. Who knows what the future holds?

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