Changing a co-owner or beneficary who has died
Friday, July 23rd, 2004
Categorized as: Savings Bond registration changes
I have E and EE bonds. My spouse, who has died, is listed as co-owner on some and as beneficiary on others. I would like to change this registration to another person. Do I have to provide a death certificate?
Tom’s response
In general, the process for removing a co-owner or beneficiary who has died from a Savings Bond registration, and adding a new name if you like, is similar to any other registration change.
My article on adding a co-owner or adding/changing a beneficiary has additional information, including a link to the form you’ll need.
However, there are some cases in which you do need to provide a copy of a death certificate.
With the older Series E and H bonds, you can’t change a living beneficiary without that person’s permission, so you need to provide the death certificate of a deceased beneficary.
If the deceased person’s name is listed first on the bond and you are listed second, normally changing that first name would be a taxable event for the deceased person. Providing a death certificate will prevent that.
Otherwise, a copy of the death certificate isn’t strictly required, but if you have one it could facilitate things to include it when you send in the form.
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Tom Adams
I also have bonds with my father’s name on it who died 2/2004. Is there a form I have to fill out with a copy of his death certificate? Is there a form that I put co-beneficiaries on incase I die? I want them in the family. There’s no one to sit down with so who can give me the steps to follow?
Hi Laurie – the person to sit down with is the lawyer who handled your father’s estate. There are different forms depending on how the estate was handled.
If your lawyer doesn’t know what to do, you can suggest that the firm order a copy of my book, Savings Bond Advisor, which will tell them what they need to know to help you.
Tom Adams
We do not have a lawyer. When my father died, my mother is the co-beneficiary, so everything went to her. My brother became the “Power of Attorney” when situations came up (ex: my father’s car was going to become mine, so my brother went through the steps of how to change the name from my father’s into mine, etc). We did not deal with a lawyer.
Laurie – Your mother can have the registration changed on the Savings Bonds that have only your father’s name on them. That’s because she’s the heir. The form for this is here:
http://www.treasurydirect.gov/forms/sav5336.pdf
Tom Adams
i have several bonds i bought long ago and i have some with my fathers name on them and some with my mothers name on them and some with with now x-wifes name on them in addition to my name. i do not know if they are beneficeres or co-owners. how do i know if they are beneficiaries or co/oweners. my intentions were that they would be beneficieries but since i have been divorced for over 15 years and my mother and father are deceased i need to know what to do to take their names off the bonds. i am contemplating cashing the bonds in the near future since i am unemployed and have been for a long time. i would appreciate your help on what to do. thank you.
Hi Lamar – The person whose name is listed first on a bond is considered the “principal owner”. If there is a second name, look at what’s in between the names.
If POD (payable on death to) is between the names, the second-named person is a beneficiary and has no rights to the bond unless you die.
If OR appears, the second-named person is a co-owner with you and can legally cash the bond without your knowledge or permission.
If you decide to change the co-owner or beneficiary, the information you need is on this page. If you decide to cash the bonds, see how to redeem a savings bond.
Tom Adams
I found a pile of savings bonds in an old safe-deposit box. They are in the names of my mother’s deceased husband and his brother, whom I think is also deceased. What can I do with the bonds?
Lynette – “I think is also deceased” won’t get you anywhere.
If you can come up with death certificates for the co-owners, if your mother’s husband died last, if these bonds weren’t claimed as lost somewhere along the line and replaced, and if your mother’s husband didn’t have a will leaving the bonds to someone else, the bonds would belong to your mother.
So you’ll have to do a lot of legwork to get the money for your mother, but if it’s truly a “pile” it would be time well spent.
Tom Adams
Hi,
My father just passed away. I have a bunch of E and EE bonds left to me in a safe deposit box that only my father and I could access, but he never told me that he had bonds in them so I didn’t find out till I opened the box after his death. The E and EE bonds are in my grandfather and father names. Grandfather passed way over 15yrs. There is no will. How do I find if those bonds have or have no contingent beneficiaries? How do I obtain the contingent beneficiary information? Thank you!
Steve – I’m not sure what you mean by contingent beneficiary. If you’re asking if there is another form somewhere naming a beneficiary, there is not. The bonds belong to your father’s estate. If he had no other assets for a probate court to examine and if the redemption value is less than $100,000, you may be able to deal with the bonds using this form.
Tom Adams
My Father and Mother are listed on a US Savings Bond as James or Marie. My Father passed aware in 1990- leaving all his assets (per his will) to my Mother. My Mother just passed away and has a living trust. The trust clearly identifies how the assets should be distributed to the beneficiaries. What do I need to provide to cash the bond into cash, in order to disbritute the funds to the beneficiaries.
Linda – since the Savings Bond isn’t registered in the name of the Trust, the Trust documents are irrelevant. The lawyer who set up the Trust should have also written what’s called a pour over Will for your mother. Depending on how many assets your mother had besides the Savings Bonds that weren’t in the Trust, you may have to probate that Will.
If the value of the bond is over $10,000 you should buy a copy of my book and spend a weekend reading it. At a minimum, read my post on Savings Bonds and Trusts.
Tom Adams
My father left EE bonds to my daughter, he is listed as co-owner but died in 2002. He signed the bonds, as a decendent to his estate,if I show a death certifcate can I cash the bonds.It appears as my daughter`s name OR my fathers name.Does she have sign also
Paula – since the bonds are registered to your daughter OR your father, and your father has died, your daughter now owns the bonds free and clear. She can cash the bonds without any other paperwork. Your father’s estate has no control over the bonds.
Tom Adams
I have an ederly friend that has asked me to figure out how to change the beneficary on her bonds. Are there specific forms that we can get to do this?
thanks,
ellen
Ellen – the information you’re looking for is here.
Tom Adams
Hi, not sure if this Q&A is still active. I have several bonds in my mother’s name. She recently died and I am the executor of the estate, which is still open. I and 2 of my siblings would like to inherit the bonds without selling them. What would I do – transfer them to “The Estate of” now and again to the individuals inheriting them at the time of distribution? Thanks!
Mike – Typically the transfer is directly to the heirs, not to the estate first and then to the heirs. There’s more info here.
Tom Adams
Hi, I have 4 EE bonds in my father’s name. He has been deceased for 11 years. There are no beneficaries listed on them. How do I cash these in.
Anna – Was your father’s estate handled by a probate court? These bonds are part of his estate and have to be distributed as the probate court determined. If there was no probate court involvement, you can use this form.
Tom Adams
hi i have 6-series ee bonds left to me by my mother pod to me. would want to make my husband co -owner, is this possible, thank you.
Eudora – the information you’re looking for is here.
Tom Adams