Beneficiary for T-bills
I just opened up a Treasury Direct account and only plan to buy T Bills and nothing else, do I need to add a beneficiary, or POD, or it would just roll back into my bank account when it matures? I have beneficiary for my bank. Thank You.
Terry Says
If you die, TreasuryDirect would require a death certificate and estate verification to distribute the money to someone else. And if there’s a delay between death and maturity (and presuming someone could get into your TD account and issue instructions to redeem instead of renew at maturity), there could be an issue with distribution of the funds.
It’s better to buy them in the name of your Revocable Living Trust, if you have one. Or to name a POD on each specific investment to avoid hassles.
