Cashing Deceased Parent's Savings Bonds?

cybergrannie
Gold Feedback Medal for All Time! 949 Feedbacks

June 8, 20182 found this helpful

Cashing someone else's savings bonds can be a tricky situation so going to your bank for guidance should be your first step.

• You say you are the executor of your mother's estate but has the will been through probate?
• Many times this has to happen before it can be said that you have a legal right to handle her financial affairs.
• Did your mother have a bank account that you have been given access to? If so, then that is the bank you should visit first.
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• Have you successfully completed other financial transactions that were in your mother's name? If so, you may be able to cite these when you present the bonds to the bank.
• If the bank accepts your mother's will designating you as executor then they should be able to handle the procedure for cashing the bonds.
• If there are other family members who feel they have some rights to your mother's estate, then, most likely, you will have to file the will and go through probate before you can officially complete this type of transaction.
• An executor has certain rules to follow and if other family members are involved then I feel sure they will want an accounting for everything that is done (financially especially).
• Talk to your bank executive and they will tell you what has to be done.

Judy
Gold Post Medal for All Time! 677 Posts

June 8, 20180 found this helpful

Talk to the officer at the bank you want to cash the bonds at.

Pghgirl40
Bronze Feedback Medal for All Time! 196 Feedbacks

June 8, 20180 found this helpful

You have my condolences on your loss. We had a savings bond situation and needed help and turned to our local state representative's office. The person there was lovely and very helpful and the service is free. They can help with a variety of things and if it is just a matter of working with bank, they can help you to ensure you have everything needed to facilitate the process.

mbrandl

June 8, 20180 found this helpful

Thank You