My mom died recently and I hope her house will sell soon. A neighborhood bank has an 18 month CD paying 1.25 percent. Do you think this is a good place to put it for now? Thanks!

Terry Says:  Yes, absolutely — unless you think you will need the cash soon.  If the house was owned by you and your mother in joint name, or in the name of a revocable living trust with you as successor trustee, then the cash is yours do with as you please.   If you want to keep this cash separate from your marital accounts, it will never be considered a marital asset (in case of divorce).  But if the house was in her name, then you need to consult with the probate attorney as to whether this money must be deposited in a special account for the “decedent” and the estate probated before it can be distributed to you.  That’s the rule even if no estate taxes are due, which would be the case if the estate is under $5.4 million.

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