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Can I cash series EE U.S. Savings bonds where the primary owner is my deceased father?

Fort Lauderdale, FL |

My (patriotic) father bought savings bonds all his life; he is the primary owner of all the bonds and his heirs are co-owners (one co-owner per bond). He passed with a pour-over will and revocable trust; I am the successor trustee and also have a Durable Power of Atty.
One heir was formally disinherited in March of 2011. Since then we have been cashing out this heirs bonds; I have a Treasuring Department Power of Atty to cash his bonds; I recently sent them to a Treasury Direct account for ease of cashing. The plans were to cash 50% of the balance in 2012 and 50% in 2013 completing the disenheritance. I have recent emails from the 'disiherited heir' saying that he has 'no interest in 'his' money'; but he refuses to sign a 'change-of-owner-ship' form. Is there any way I cash these Bonds?

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Attorney answers 1


The trust terms control AND the actual title on the bonds will determine how it has to be handled. Was a probate filed? The personal representative can get authorization to cash bonds from the trust still titled in the name of the decedent if that is the problem. Hard to really understand what the actual issue is other than the change of ownership form that someone else wont sign. If the disinherited heir is on the bond as a holder, you may have no choice but to file suit to get that title cleared. Seek legal help with all your documents.

The answers given are limited to the facts as given and presumed by the answer itself. Without seeing actual written documentation or having a conference to more fully explore the issues, this short answer has only limited application. Make sure to seek legal counsel and provide all documentation to get assistance in making informed legal choices., 305 377 1505

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