Death benifit or co-owner on a C D ?

When you set up the CD, you put a Pay On Death person to it, so IF you die, it goes to them, outside of your estate/probate.

Your heirs will not pay taxes. If any are due, your estate will owe them. You might benefit from meeting with an attorney who does a lot of estate planning. I highly recommend you do so!

I think the designation in POD or Paid on death of the holder. Then again that on doesn't sound right but you institute can aid you.

It depends how you name the beneficiary. If you have life insurance you need to name a "real person" and not the estate.

Ask a tax person.