re: Elderly family member asked me for advice on what to do with his money.

quote:

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If he wants to pass it on, I'd imagine the first thing he should do is start maxing out his annual gifting exemption.

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depends, is the amount he has less than than 5 million threshold for estate taxes, if so keep his money and let the kids or whoever fight it out after he is dead and gone and for sure will not need it any more

I agree with above, just keep it in CD's, at his age he needs no risk, and making extra money is not going to really benefit him, play it safe