<p>A relative has named my minor children as co-owners of a decent-sized CD. (For example, $20k in the names of Mary Smith or Jane Doe and Jill Doe.)
When she dies, I would like to split the money with my neice and nephew- who are otherwise completely left out of the inheritance. Will there be a way (on the FAFSA or other) to show that my kids did not, in fact, receive $20k? In this example, my kids will receive $5k each. I know the money may not count as income, but there willl be a 1099 showing the interest and I am sure the question will arise re: so what happened to that $20k? Thanks</p>
<p>If you disperse the money to the kids there will be nothing left to show</p>