Ask Terry Questions US Savings Bond Re Deceased Beneficiary

US Savings Bond Re Deceased Beneficiary

By Terry Savage on July 01, 2016 | Chicken Money

Upon my death (owner of bond), who will get the value of my US Bonds since my husband (beneficiary) is deceased? Will it go back into my estate or go to his heirs?

Terry Says:  You should contact the Treasury and change the name on your savings bonds if your co-owner is deceased.  Even if you have a will specifying who will get the bond, the process will be tied up in probate (the process of changing names on assets).  That could take months, and your executor will have to jump through a lot of hoops to get it done.  And the attorney for the estate could charge fees for providing this service.

Instead, here’s a link to the page at that explains how to go about removing a deceased co-owner’s name from a bond, and naming another co-owner. You can also check to see what the bonds are worth now, and when they will come to final maturity.  You don’t want to cash in old Savings Bonds that are still earning interest, because they all have higher “base” rates of interest than you could get today.



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