My son is very high functioning autistic, does he need a trust so he won't pay inheritance taxes on the cash he gets from my POD bank account for which he is listed as designee?
Question Details:
Does my very high functioning autistic son need a trust so he won't pay inheritance taxes on my cash money Paid On Death to him from my bank accounts?
Wills, Trusts, Probate Law Answers
If you aren't rich enough that you wouldn't think of asking for an answer here, rather than putting in a call to the attorney you have on retainer or who has a history of handling your legal matters for the past few years, then you don't have to worry about federal inheritance taxes. If your gross estate is under $3,500,000, no estate tax return is even required. Don't worry about California, because the state no longer has an estate tax.
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