Sam is married to Ann and they have a daughter name Devin. Ten years earlier, Sa
Sam is married to Ann and they have a daughter name Devin. Ten years earlier, Sam went online to his bank and transferred from his checking $100,000, and purchased a certificate of deposit. The certificate of deposit listed the title as: Ann, payable on death, to Devin. Five years late, Ann dies and is survived by her spouse and daughter. Are there are transfer tax penalties that would have to be incurred in the situation?
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