Legal Question in Wills and Trusts in California

CD Beneficiaries

This question is concerning multiple CD's with three equal beneficiaries. My grandfather has multiple CD's that my mother and her two brothers are equal beneficiaries and co signers to the joint accounts. When my grandfather dies, what will happen? How will the monetary values be split up? Will taxes be taken out? Gift tax? Other taxes? What is the Best way to handle this?


Asked on 2/19/07, 3:03 pm

1 Answer from Attorneys
Bernard Greenberg KOKISH & GOLDMANIS, P.C.

Re: CD Beneficiaries

Money should be distributed in accordance with the beneficiary designations.

California Inheritance Taxes and Federal Estate Taxes may apply.

For details, consult with an attorney in California who is experienced settling estates.

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Answered on 2/19/07, 3:22 pm


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