Comments on: Should the elderly redeem their bonds before passing them to heirs? http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/ Thu, 18 Mar 2010 09:18:49 +0000 http://wordpress.org/?v=2.0.4 by: Tom Adams http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63334 Wed, 17 Mar 2010 15:29:50 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63334 Bob - you will need death certificates for both your wife and the uncle. The bonds belong to the heirs of whoever died last. If that's your wife, you can either cash the bond or have it reissued to you. After that, you can reissue it to your grandchild, but that will be a taxable event for you and I do not recommend it. The form you need to use depends on whether your wife's will has handled by a probate court or not and, if so, whether the case is still open or has been closed. <a href="http://www.amazon.com/dp/0976064537?tag=alert-20" rel="nofollow">My book</a> has the details on the forms and additional paperwork you need to send in. Tom Adams Bob - you will need death certificates for both your wife and the uncle. The bonds belong to the heirs of whoever died last. If that's your wife, you can either cash the bond or have it reissued to you.

After that, you can reissue it to your grandchild, but that will be a taxable event for you and I do not recommend it.

The form you need to use depends on whether your wife's will has handled by a probate court or not and, if so, whether the case is still open or has been closed. My book has the details on the forms and additional paperwork you need to send in.

Tom Adams

]]> by: Bob Koenig http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63322 Wed, 17 Mar 2010 00:42:10 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63322 I have several EE 1990 $1000 bonds. They are owned by my wife (or) an uncle, both are deceased. Can I assume possession, having her death certificate, and then have a grandchild as a co-owner? What kind of form will I need? What kind of documentation? My bank does not get involved with this. I have several EE 1990 $1000 bonds. They are owned by my wife (or) an uncle, both are deceased. Can I assume possession, having her death certificate, and then have a grandchild as a co-owner? What kind of form will I need? What kind of documentation? My bank does not get involved with this.

]]> by: Tom Adams http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63314 Tue, 16 Mar 2010 20:49:08 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63314 <b>Mike</b> - I'm not sure what you mean by maturity, but it's not the usual meaning. I bonds pay interest for 30 years. If these bonds were issued in 2001 or before they are about the best place you can have money invested today and pay <i>much</i> higher rates than your savings account. <b>Joe</b> - The information you're looking for is <a href="http://www.savings-bond-advisor.com/how-to-update-savings-bond-registrations/" rel="nofollow">here</a>. <b>Jean</b> - Although what you want to do is allowed, I wouldn't recommend it. There's more info <a href="http://www.savings-bond-advisor.com/cashing-savings-bonds-internationally/" rel="nofollow">here</a>. Tom Adams Mike - I'm not sure what you mean by maturity, but it's not the usual meaning. I bonds pay interest for 30 years. If these bonds were issued in 2001 or before they are about the best place you can have money invested today and pay much higher rates than your savings account.

Joe - The information you're looking for is here.

Jean - Although what you want to do is allowed, I wouldn't recommend it. There's more info here.

Tom Adams

]]> by: Jean http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63292 Tue, 16 Mar 2010 17:25:48 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63292 I have a friend in Mexico who had a baby in Jan. 2010. I want to buy a US Savings Bond for the baby. Should I make the baby the co-owner or the beneficiary? Will she have a hard time cashing the bond since she's not a US citizen? Jean I have a friend in Mexico who had a baby in Jan. 2010. I want to buy a US Savings Bond for the baby. Should I make the baby the co-owner or the beneficiary? Will she have a hard time cashing the bond since she's not a US citizen?
Jean

]]> by: Joe http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63289 Tue, 16 Mar 2010 14:14:23 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63289 Tom, When an I bond is purchased with two co-owners and then one of them dies, can that persons name be changed on the bond to someone eles? Thanks, love the site. Joe Tom,

When an I bond is purchased with two co-owners and then one of them dies, can that persons name be changed on the bond to someone eles?

Thanks, love the site.

Joe

]]> by: Mike Cooper http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63268 Mon, 15 Mar 2010 20:46:56 +0000 http://www.savings-bond-advisor.com/bequeathing-us-savings-bonds/#comment-63268 I have nearly $10,000 in "I" series bonds that matured several years ago. After 5 years maturity, are the bonds still earning interest? If I need $4,000 now, should I cash in bonds or take cash from bank savings account? Thank you for your response. I have nearly $10,000 in "I" series bonds that matured several years ago. After 5 years maturity, are the bonds still earning interest? If I need $4,000 now, should I cash in bonds or take cash from bank savings account?

Thank you for your response.

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