Savings Bonds that are not mine

debodun

debodun

SF VIP
Location
way upstate in New York, USA
When I was cleaning out my uncle's apartment after his passing, I found three U.S. Savings Bonds. One is a War Bond, the other two are from the 1960s (see photos - named erased for privacy). I looked into it and combined, they are worth a little over $400. I asked the local bank manager and he said in order to cash them in, I would have to get all birth and death certificates for the people named on the bonds, then show how I was related to them, then the birth and death certificates of the deceased person through which that relationship existed. On top of that I would have to split it 4 ways with cousins that have as much claim to the money as I do. It would cost more money than I would realize from this and be more trouble than it was worth. They are probably worth more as collector's items. Any feelings on this situation?
 

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RadishRose said:
I wouldn't bother, but I would give them to the cousins to deal with if they choose.
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Good idea. You might want to cut a deal with the cousins. Something like whichever of you goes through the trouble and expense of gathering this paperwork and cashing the bonds gets $100 or $150 before the rest of the proceeds are split between you.
 
A friend of mine received some from his Dad’s estate upon his death. I’m thought and thought about this and I think he got a few thousand dollars for each war bond from WWII that his Pop had. He didn’t tell me how many there a]were.

So, if that’s the case and the bond is worth $2-3000.00, you may want to call a coin collector, or go to the library and try to get some info before throwing in the towel.
 
My guess is that since his dad was the last parent living and he was named the Executor, he probably only needed a copy of the death certificate to either have the ownership changed or sell the bonds.

In your case, I would think that if your remaining cousins would sign off on the bonds via an affidavit, the bank should be OK with that, so long as you provided a copy of the death certificate. Once you receive the money, you can then share it as stated in the affidavit that you will write out before having it notarized.

I’m not an attorney, so maybe it’s best to follow your banker’s directions. It will be interesting to find out the value of the bond.
 
I would need certificates for 4 people. Also, I am not on very familiar terms with my cousins. One I don't even know where he is or is even alive. One I have not had contact with in over 55 years.
 


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