Ask Terry Questions I-Bond limits

I-Bond limits

By Terry Savage on August 16, 2022 | Chicken Money

A couple months ago I asked you if my wife and I could purchase $10,000 I-Bonds in our own names in addition to th $10,000 I-Bonds that we have already purchased titled to our Revocable Living Trusts. I thought that your answer was “no” due to the $10,000 annual limit. However, in your recent Chicago Tribune column (July 31) you say that people CAN purchase $10,000 in a RLT in addition to $10,000 in their own name. I’m confused. Am I misinterpreting something?

Terry Says

YOu can EACH purchase up to $10,000 in I bonds in your own name — AND also purchase $10,000 in the name of your RLT (even though it uses your SS number)! It astounds me too!! But it’s true! AS noted in my recent column, you should like it to a bank account in the name of your RLT. And you may be asked for the authorization pages of the trust (as you would when opening a bank or brokerage account in the name of your RLT).

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