My parents, (who are divorced) received insurance disbursement
payments, one of equal amount to each of them.
I was told by the bank as long as I was secondary on the account that I
would not be taxed, so opened up two bank accounts with them as the primary and
me as the secondary account holder. At
this point, we want to lock away the money for the next year, we were thinking
CDs would be a good option. Are the any
other good methods? Main thing would be
to keep my name on both of their accounts, while at the same time not taking on
any tax burden.
