Deposit deceased parents' cash promptly to avoid risks

A person discovered a large amount of cash saved by their deceased parents and is concerned about depositing it without alerting the IRS. Experts suggest depositing the money all at once to avoid suspicion, rather than in smaller amounts. It is recommended to keep any documentation, like envelopes with savings history, to explain the source of the funds if questioned. Consulting an estate planning attorney is advised to determine if the cash should be deposited under the mother’s estate. Additionally, it is important to deposit the cash promptly to avoid risks like theft or loss due to disasters. Keeping cash can also lead to a loss of value over time due to inflation.