My inexperience may have led me into a bit of a sticky situation, so I'm hoping someone will have some advice on how I (hopefully) can fix this:

- My mom had a CD worth around $50,000. She added me on it as a joint account owner, as she's getting older and needs help managing her finances.

- When the CD matured, I went into the bank by myself, opened a new money market account, and then transferred the $50,000 from the CD to this account, so that she would have liquid funds to tap into.

- The only snafu was that my mom wasn't with me, so I was only able to add her as a beneficiary on this new money market account. They needed her to go into the bank in person to be added as a joint account owner.

After I got home, I realized that because the money market account is in my name, she's probably going to get hit with a gift tax now. So my question is this:

If I take my mom back to the bank and add her as a joint account owner, and then have her take over as the primary account owner, will we be able to avoid the gift tax?

If not, is there anything we can do retroactively? I'm kicking myself pretty hard right now for not realize what I'd done, and I reeeeeeally hope there's a solution here.

Thanks in advance!