Inheriting Certificates of Deposit
My Aunt recently passed away. There are a number of CD's that were in her name and mine. I understand that they are now mine and the inheritance tax will be paid on 50% of the amounts. However, I would like for my sister to get half of the CD's. Can CD's be transferred? What would be the best way to get half of the amount to her? What are the tax implications? I live in Pennsylvania and that is where the CD's are - she is in Florida. Would really appreciate any help and advice that can be given. Thanks.:confused: