Does anyone know how Payable on Death accounts fit in with Inheritance Taxes? Someone recently told me they aren't considered Inheritances as long as they are not probatable . Is this correct? I was told they are taxed at the 67% rate and it just doesn't fit in with anything I have ever known. Has anything recently changed when it comes to how much Inheritance tax we have to pay if we inherit CDs only? Is it true it is better to list anyone you want to inherit a CD directly on the CD rather than put them on as a POD? Which is better taxwise. I apologize for all the questions but I am now really confused about these matters. If you know of a link I can use to be educated on the subject, please advise. Thanks for your help.
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