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CDs in Bank.

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jmmahr

Junior Member
What is the name of your state? MASSACHUSETTS

My mother has 2 CDs in a bank in Boston.
One is in her name and my sisters and the other is in her name and mine.
On the statements just the names are listed we do not seee any additional verbage such as Joint tentants etc......

When she passes do the funds go directly to us ===> no probate, or are they included and lumped into her estate on which there will be taxes due ?

THANK YOU FOR ANY ADVICE.
We are unsure how it all works.
 


JETX

Senior Member
My mother has 2 CDs in a bank in Boston.
One is in her name and my sisters and the other is in her name and mine.
On the statements just the names are listed we do not seee any additional verbage such as Joint tentants etc......

When she passes do the funds go directly to us ===> no probate, or are they included and lumped into her estate on which there will be taxes due ?

We are unsure how it all works.
We are too... until you tell us EXACTLY how the CD's are listed.
 

jmmahr

Junior Member
Cds in Bank

The statement on the CD simply lists:


My mothers name
My name
account number
term of CD



Is there someother information we are missing ?
THANK YOU
 

curb1

Senior Member
Call the bank and ask them your specific questions. A two minute phone call will let you know exactly where you stand.
 

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