Bonds in estate
My parents estate includes some long term bonds that are no longer openly traded in the market. Some of these still have many years until maturity. Although they are still paying interest, I was wondering if there is any way I could easily liquidate them? The total value for these bonds is less than $2,000 and represent a minor portion of the total estate. Thank you
Terry Says
So, I’m assuming you have paper bonds?? If they were in a brokerage account (listed on a statement) you would simply direct the brokerage firm to liquidate them and send a check to the estate. You’d have to provide proper documentation that you are the executor of the estate.
If they are paper bonds, how do you know the value? Where did you look up the current price? Just asking because thinly traded bonds are not easily priced. But if you have paper bonds, on teh back of the bond certificate there is a “transfer agent” listed. They do not act as brokers, but they can put you in touch with a firm that will help you liquidate the bonds. AND they should be able to give you the correct current value.
Again, you’d have to provide documentation. And they’ll send you a “power” you must sign to sell the bonds. And photocopy the bonds on both sides, and send the originals by registered mail — so get an address and name to send them, not a PO Box.