More details to this question:
I'm 88 and have listed my three children as co-owners on three mutual funds, one on each. Does this go to probate? Do they pay any taxes on their inheritance?
1 ANSWER
Joseph Pippen
These type assets that are jointly owned with right of survivorship do not go through probate.
Check with a CPA about the taxes.
Answered on Dec 28th, 2013 at 12:33 PM