Treatment and taxes of old Savings Bonds.

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Jack FFR1846
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Location: 26 miles, 385 yards west of Copley Square

Treatment and taxes of old Savings Bonds.

Post by Jack FFR1846 »

We had an aunt of DW recently pass. Part of what was in the safe deposit box was a stack of E bonds (savings bonds). All were in the aunt's mother and father's names. So both had one as owner OR other. The rub is that most are really old. I didn't pay 100% attention going through them, but remember a bunch from 1943, 45, into the 50's and 60's. The aunt was the sole heir via will. DW and her sister are the only heirs of the aunt (never married). DW is executor.

From looking online and documents DW has, we have access to all of the grandfather's documents via probate. Will, death certificate. Grandfather was second to pass after grandmother. We'll have aunt's death certificate and I believe a will.

Anyways, are we in for a world of tax filing hurt or complication? Total face value is around $15k and will likely be the majority of the estate.
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anon_investor
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Re: Treatment and taxes of old Savings Bonds.

Post by anon_investor »

Jack FFR1846 wrote: Mon Jan 18, 2021 2:34 pm We had an aunt of DW recently pass. Part of what was in the safe deposit box was a stack of E bonds (savings bonds). All were in the aunt's mother and father's names. So both had one as owner OR other. The rub is that most are really old. I didn't pay 100% attention going through them, but remember a bunch from 1943, 45, into the 50's and 60's. The aunt was the sole heir via will. DW and her sister are the only heirs of the aunt (never married). DW is executor.

From looking online and documents DW has, we have access to all of the grandfather's documents via probate. Will, death certificate. Grandfather was second to pass after grandmother. We'll have aunt's death certificate and I believe a will.

Anyways, are we in for a world of tax filing hurt or complication? Total face value is around $15k and will likely be the majority of the estate.
This might help:
https://www.treasurydirect.gov/indiv/re ... edeath.htm
Topic Author
Jack FFR1846
Posts: 13283
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: Treatment and taxes of old Savings Bonds.

Post by Jack FFR1846 »

anon_investor wrote: Mon Jan 18, 2021 2:39 pm
Jack FFR1846 wrote: Mon Jan 18, 2021 2:34 pm We had an aunt of DW recently pass. Part of what was in the safe deposit box was a stack of E bonds (savings bonds). All were in the aunt's mother and father's names. So both had one as owner OR other. The rub is that most are really old. I didn't pay 100% attention going through them, but remember a bunch from 1943, 45, into the 50's and 60's. The aunt was the sole heir via will. DW and her sister are the only heirs of the aunt (never married). DW is executor.

From looking online and documents DW has, we have access to all of the grandfather's documents via probate. Will, death certificate. Grandfather was second to pass after grandmother. We'll have aunt's death certificate and I believe a will.

Anyways, are we in for a world of tax filing hurt or complication? Total face value is around $15k and will likely be the majority of the estate.
This might help:
https://www.treasurydirect.gov/indiv/re ... edeath.htm
I did read that. It almost seems too simple. Would this make sense:

DW (executor) brings all death certificates, wills, including aunt's naming her as executor, her passport to our credit union (they do cash savings bonds) and then sign them and she's done?
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anon_investor
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Re: Treatment and taxes of old Savings Bonds.

Post by anon_investor »

Jack FFR1846 wrote: Mon Jan 18, 2021 3:14 pm
anon_investor wrote: Mon Jan 18, 2021 2:39 pm This might help:
https://www.treasurydirect.gov/indiv/re ... edeath.htm
I did read that. It almost seems too simple. Would this make sense:

DW (executor) brings all death certificates, wills, including aunt's naming her as executor, her passport to our credit union (they do cash savings bonds) and then sign them and she's done?
I have not done this before, others with experience might chime in, but reading through the instructions it sounds like your wife may have to redeem them by mail with the US Treasury since all the named individuals on the bonds have passed.

I think it would be worth contacting Treasury Direct to ask:
https://www.treasurydirect.gov/email.htm

It looks like you can call, or submit an email inquiry specific to Series E/EE/I Savings Bonds.
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