How to handle cash savings of deceased parents

Banks report large cash deposits — typically those of $10,000 or more — to the IRS as a way to combat money laundering. I discovered that my parents saved up quite a lot of cash, and I’m afraid to deposit it without triggering the IRS. “Depositing the money all at once would probably arouse less suspicion with the bank than making a continuing series of deposits just under $10,000,” says Mark Luscombe, principal analyst for Wolters Kluwer Tax & Accounting. Answer: To repeat, Social Security is typically “either/or,” not “both.” When you apply for Social Security, your own retirement benefit will be compared with a spousal benefit based on your husband’s earnings record.