Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My mil started to do a living trust to avoid us having to pay huge after death taxes. She did not follow through on this. My fil when he was alive had put his money in cds. The CD's were in his name and one of his heirs plus his wife. When he died she went if with a death certificate and had them take his name off. So now it is her name and one of the heirs. When she dies we just pick up the CD and death certificate and cash it in. No probate no taxes.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.