Saving money without taxes?

Question

A friend of mine is receiving about $3,500 from a relitive who passed away. She wantes to put that money towards her uncle's funeral costs. Her uncle is in a nurcing home and other than being parylized and diabetic he is healthy. He most likely will live another 30 years. Is there any way to safley invest that money so that in 30 years it will cover the cost of a funeral and so she will not get hit with taxes on the interest. She cannot put the money is his name or the nurcing home will take it.

Answer 1

She could talk to a funeral home about prepaid funeral costs - other than that, she'd be paying taxes on the interest.