Payable on Death (POD) designations on I-bonds
My wife and I have multiple I-Bonds, some in her name, some in mine. All were purchased at least 10 years ago; all are paper issues. Is there a way to assign TOD designations to these Bonds e.g., TOD to my wife on Bonds currently in my name, TOD to our children? Thanks for your time and consideration. VTY, Tim Quinn
Terry Says
First — and I changed the wording in the title of your question — you are talking about PAYABLE ON DEATH (POD) designation.
You’d have to send your bonds to the Treasury to change the title — and that might not even make sense since they are close to maturity. Here’s how to do that conversion to digital using the SmartExchange program:
https://treasurydirect.gov/indiv/research/indepth/smart-exchange-info/
If you don’t want to convert, you can’t change the names! Do you have a will or estate plan? If a will, the proceeds of your savings bonds will be distributed on death per your will.
When you open that digital account, you can easily add a POD designation to your bonds.
