Changing a Savings Bond’s beneficiary to a co-owner
Wednesday, August 25th, 2004
Categorized as: Savings Bond registration changes
If a Savings Bond currently has POD between the names, indicating the the first person is the owner and the second is the beneficiary, can the owner change the beneficiary to a co-owner so that the owner does not have to be deceased in order for the other to cash it? I have several that I bought and listed a POD beneficiary and I’d rather now that they could be cashed by either the beneficiary, or by me, the owner.
Tom’s response
You can change a beneficiary into a co-owner at any time without tax consequences. Click here for the details about changing the beneficiary to a co-owner. This page includes a link to the form you’ll need.
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Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.
Tom Adams
do I need a beneficary name on a bond
Kathy – a beneficiary is not required. You can have only your own name.
Tom Adams
If the owner of a bond dies can the POD take ownership without cashing in bonds?
Alberta – Yes. See this.
Tom Adams
My dad has some EE bonds. His name is listed but his children are listed under his name ? as the beeficiary. My dad wants to change the beneficiaries. How does he do that? Is there paperwork to complete? If so where do you get the forms and what is the process?
Lori – in the story at the top of this page there’s a link to another page that has the answers to the questions you’re asking.
Tom Adams
My brother and I are equal beneficiaries to our folks’s estate, which includes U.S. savings bonds. How should we procede in cashing the bonds and splitting the money and taxes?
Carol – Your question seems simple, but there are a lot of complications to getting the most benefits from your parent’s Savings Bonds. I’ve written a book that answers all the questions you have plus many more that you haven’t thought of yet. You and your brother should each spend a weekend reading it before you make a move on the Savings Bonds.
Tom Adams