A reader wants to give his Series EE savings bonds to his grandsons. What are the...
I have some old Series EE US savings bonds that have matured, but I have not cashed them in. I would like to give them to my grandsons, but from what I have read on Treasury Direct, I will have to pay income tax on the accrued interest in order to give them away. Is this correct?Series EE bonds that have matured cannot be reissued in someone else's name. The bonds can only be redeemed.
In your case, that is still an acceptable result. Just cash them in and give the cash to your grandsons. Alternatively, you can buy new Series EE bonds for them.My father recently died without a will. Everything passed to a designated beneficiary, but not his possessions in his apartment totaling less than $2,000, an old ski boat with the title still in his name, and $30,000 in a checking account with no payable on death beneficiary. He lived and died in Tarrant County.
A. I don't have any advice for you, as this is not a subject they teach in law school. However, here are two nonprofit organizations you may find helpful: Donate Life Texas and the Funeral Consumers Alliance of Central Texas . An internet search will lead you to many for-profit companies that offer advice on how the two of you can plan.
The information in this column is intended to provide a general understanding of the law, not legal advice. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances. Ronald Lipman of the Houston law firm Lipman & Associates is board-certified in estate planning and probate law by the Texas Board of Legal Specialization. Email questions to [email protected].
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