How to act for an incapacitated Savings Bond owner
Tuesday, October 5th, 2004
Categorized as: Savings Bond registration changes • Cashing in US Savings Bonds
I recently received Power of Attorney for my cousin who has had several strokes. He has Savings Bonds dating from 1967 to 1998. I have taken 81 $25 bonds that are matured and separated them for redemption. My cousin can not sign them. My bank says to send them to a Federal Reserve Bank, but they do not advise how to get them signed. Can you advise?
Tom's response
The Treasury actually has forms for the situation you're in. The form you need is Application by Voluntary Guardian of Incapacitated Owner of United States Bonds/Notes.
The last page of the form has detailed instructions, including where to mail the form. You will have to have your signature certified at a bank or notarized by a Notary Public.
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This form states that the owner of the bonds is mentally incapacitated. What if the owner is still mentally sound, but physically incapacitated due to stroke?
The link for the form: Request for Payment of Series I Savings Bonds by the Representative of the Estate of an Incompetent or Minor is not a valid link.
Zoe - I've been trying to get an official answer to your question, but I've gotten no response so far. Meanwhile, would a power of attorney work? The owner would still need to sign in front of a notary public, but if the owner is hospitalized that's often a service the hospital can provide. The form delegates someone like you to act for the owner in Savings Bond transactions. You would then sign for the owner at the bank by presenting the form and your ID.
Nik - It appears that form, which was redundant, has been discontinued. I've removed the reference to it in the text above. Thanks for the note.
Tom Adams