question about Savings Bonds


J

Jane

I had posted this on the investment group but it was suggested I post
it here:

I have over 100K in US Savings Bonds. They are in my name and my
husband. My husband recently died. I don't want to cash them because
of the tax ramifications and also because most of the bonds are
getting > 5%. I was told I cannot make any name changes, that to do
that I would have to sell and repurchase.

Can these bonds be put into a trust? I'm not sure of the terminology,
but I mean the kind of trust that protects assets from probate not the
kind that protects them from Medicaid.

Help would be greatly appreciated.

Thanks

Jane
 
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A

Alan

Jane said:
I had posted this on the investment group but it was suggested I post
it here:

I have over 100K in US Savings Bonds. They are in my name and my
husband. My husband recently died. I don't want to cash them because
of the tax ramifications and also because most of the bonds are
getting > 5%. I was told I cannot make any name changes, that to do
that I would have to sell and repurchase.

Can these bonds be put into a trust? I'm not sure of the terminology,
but I mean the kind of trust that protects assets from probate not the
kind that protects them from Medicaid.

Help would be greatly appreciated.

Thanks

Jane
Whomever gave you that information is incorrect. Here is the
answer to your question direct from the US Treasury:

If a Surviving Person Is Named on a Bond

If you are named in a bond's registration with someone else who
is now deceased, you can:

* Do nothing with the bond;
* Redeem the bond by presenting it with adequate
identification at a financial institution that pays savings
bonds; or,
* Get the bond reissued (re-registered) in your name alone
or with some other living person as long as the bond is still
earning interest and is not approaching final maturity.

To have a savings bond reissued in this situation, you'll need to
send a certified copy of the deceased person's death certificate
with the bonds and a reissue request PD F 4000 (see link below)
to a Treasury Retail Securities Site (see link below to find a site).

http://www.treasurydirect.gov/forms/sav4000.pdf
http://www.treasurydirect.gov/FC/FCGateway?site=indiv&app=sav
 

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