HiI had a client who passed away and had a TOD account who the beneficiary is her daughter 100. We have moved the money into the daughter's...

Question

Hi

I had a client who passed away and had a TOD account who the beneficiary is her daughter 100%. We have moved the money into the daughter's name. Now, we want to add the granddaughter to the account. So the new account will be daughter/granddaughter JTWROS this is all in NYC.

is this a taxable event

thank you

div

Answer

no