Comments on: Executor's options

by: Tom Adams

Mon, 22 Mar 2010 14:26:48 +0000

ML - Was your father's estate probated? If so, did the court confirm your mother as your father's only heir? If not, was this determined some other way?

Assuming she is the heir - it would be rare if she wasn't - the bonds are hers and don't need to be cashed, but it would be wise to have the registration changed to her name with her choice of POD.

Tom Adams

by: ml

Sat, 20 Mar 2010 18:07:27 +0000

My father died in 2009, my mother still living. They have numerous savings bonds, and live in a community property state. None of the bonds have been cashed - although some are in my father's name POD to my mother. Is she required to cash these bonds or can she continue to hold them?

by: Tom Adams

Wed, 10 Feb 2010 15:23:19 +0000

Mike - The information the bank gave you about chain letter Savings Bonds is correct.

Tom Adams

by: Mike Welborn

Mon, 08 Feb 2010 22:31:58 +0000

Dear Tom:

My Mother passed away in December of 2008 and she has two Series E $25 Savings Bonds that were issued to her Social Security number in 1978. It is my understanding that they are now worth $106 each. I talked to our local bank and they told me that I had to mail them in, they gave me an address but that they would only be worth the purchase price. I am the personal representative for my Mother's estate and can act on her behalf so is there some way that I can get full value for them.

There was a Savings Bond chain letter going around in the 1970s and she received them as a result of participating in that charade. Can you give me an direction on how I can cash them in?

Thank you,

Mike Welborn

by: Tom Adams

Mon, 12 Jan 2009 16:19:43 +0000

Hi Lisa - It is correct that you are now the legal owner of the bonds. But since that's not what you want and you have the divorce papers showing that you're not the owner, you may be able to get the bonds transferred to your children.

I recommend you have your daughter the Executor Ask the Treasury how to accomplish this. She will probably need to submit both the divorce papers and her father's death certificate. They will tell you what form to use and who should sign it.

Tom Adams

by: Lisa B.

Sun, 11 Jan 2009 17:57:08 +0000

My ex-husband and I bought EE savings bonds during our marriage. The bonds are in both our names with OR (not and). The bonds are mentioned in our divorce papers and we split them 50/50 at the time of our separation. I cashed my share in several years ago and paid all the due taxes on my share. He died 4 years ago. We have four children together. The oldest childn was named executor of his estate via the court and she has not cashed them. All of the children want to cash in the bonds and get their share. According to the Treasury website, the bonds are now my property upon his death as no POD was named. However, I don't want to cash the bonds and have to pay the taxes in order for the kids to get their money. How can I assist getting them into the children's names share & share alike?