Q: Can certificates of deposit be designated to a specific person in estate planning?
I am doing estate planning and want to know if certificates of deposit are considered tangible property. Specifically, can I designate these CDs to go to a specific person in my estate?
A: Sure.
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A: CDs are not tangible personal property so you cannot use a personal property memorandum to designate who should receive them. Instead you would make a specific distribution of them in your will or trust.
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