From Yahoo Finance: 2025-04-18 20:01:00

A listener of the “Women & Money” podcast discovered $200,000 in cash hidden by her deceased father. Suze Orman advised depositing it due to lost interest and safety concerns, but emphasized legal steps to avoid issues with large deposits triggering reporting requirements under anti-money laundering rules.

Orman recommended contacting an attorney for guidance on depositing the money, advising full transparency with the bank to avoid future problems. Opening an estate account for the funds simplifies probate, ensuring proper distribution according to the will or trust. Legal and tax professionals can help navigate potential IRS implications.

If you find a large sum of cash in a loved one’s home, seek legal advice, stay transparent, and take the right steps to protect yourself and the money. Following Orman’s advice can help manage unexpected windfalls responsibly and avoid legal or financial pitfalls.



Read more at Yahoo Finance: What Would You Do If You Found $200,000 Cash In A Deceased Loved One’s Home? Here’s What Suze Orman Would Do