My question involves estate proceedings in the state of: South Carolina
My father recently passed away. He made me a joint owner on his checking account. I understood it was his wish to divide it with my sister. The account is about $300,000. The entire estate is not over $600,000. After his death, the bank advised me to put all of the money into an estate account so that I could split it with my sister without it becoming a gift. Now I am concerned that I have made a gift of $300,000 to the estate and there may be tax implications. Did I act properly? I understand this will increase my probate fees by a few hundred dollars, but it seemed the best solution.