New Mexico | Wills and Trusts
11/22/04, 2:52 pm
Legal Question
when to divide money of elder parent
My wifes mother has $200,000 in CD's that she wants to distribute evenly among her 4 adult children. Is it better for her to give them this money now, before she dies, or leave it until she dies and divide it evenly in her will? She wants to make sure each child gets the money without paying alot of tax. She has no debts; her home is owned free and clear and will be sold (according to her will)... and that money will also be distributed evenly among the 4 children upon her death. But, what should be done with the $200,000 in CD's now?
Thank you, Terry
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