T-bills
Looking to purchase T-bills for elderly parent. Is there a way to put a beneficiary on the account?
Terry Says
Your elderly parent should have created a Revocable Living Trust. Read this article and take steps now.
Then you can buy the T-bills in the name of the RLT — and you will have automatic control if your parent cannot act, or when he or she dies. That’s the correct way to do it.
But you can also designate a beneficiary for your securities on TreasuryDirect. Follow this link for instructions on how to do that.
But remember, you only get to act after the owner’s death — unlike a RLT, which allows you to take over in case of dementia or incapacity.
