Ask Terry Questions I Bond ownership at death

I Bond ownership at death

By Terry Savage on July 12, 2022 | Chicken Money

Do I Bonds become part of the estate so beneficiary does not need to be noted? Inheritance Tax?

Terry Says

It depends on how the account is titled. For example, if you have a revocable living trust (RLT) then you could purchase the bonds in the name of your trust, which uses your Social Security number. At death, the trustee would follow your written instructions as to the proceeds of the bonds. The estate would owe taxes on the increased value of the bonds (over cost) at death.
Or you could title them as “with” another person, who would own them if you die. Read this article:
https://www.terrysavage.com/savings-bonds-cashing-in-and-buying-now/

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