I Bonds for Trust
Hi Terry,
Is there an advantage to buying I Bonds under my Trust vs. under my own name? I will probably not be buying the maximum amount of $10,000. It seems simpler to use my own name.
I am also planning to purchase I Bonds for my 7 yr old grandson for whom I am guardian. Can I link to his minor savings account (I am the custodian) or should I use my own checking account?
Thanks for your great advice. I hear you often on WGN.
Terry Says
If you have a Revocable Living Trust, you should buy every asset in the name of the trust (which uses your SS number). That way, at your death, your executors will have a much easier job of transferring your assets.
The bonds for your grandchild can be purchased in a “minor-linked” account using his SS number, with you as custodian. Details here: https://www.treasurydirect.gov/indiv/help/TDHelp/help_ug_126-LinkedAccountLearnMore.htm
