Can I cash in these savings bonds? (long story)

About 5 years ago, my grandfather passed away and my grandmother was moved to a nursing home so my two aunts had to clean out their house and put it on the market. The only room they didn't go through was my grandfather's dark room. They said it was my responsibility because my mom would have inherited all the camera equipment and since she already passed they job fell to me. Basically, they didn't want to deal with going through the junk and getting rid of all the chemicals. So, we did and while most of the stuff got tossed or disposed of, we did find a few things we kept, mainly old photo albums and odds and ends. Nothing of value....we thought.

I was going through the photo albums recently and found an envelope stuffed with savings bonds from the 1940's (they are in my grandfather's name). We checked online and they have matured and total almost $900.

Now, here's my question...can I cash them in? My grandmother has since passed away and the estate has been closed for over a year now. Would a bank even cash them? Should I email my aunts that handled the estate and turn them over to them? The main problem I have with that is my one aunt was a real b*tch about the whole thing..accusing me of trying to "take" things before she and my other aunt went through everything, saying I had no "right" to anything until they decided. All I did was offer to store some things (christmas ornaments, etc) until they could come into town so the new owner didn't throw them out. Needless to say that aunt and I don't really get along. I have no problem with my other aunt, but the first one is who handled the estate.

We could really use the money right now, especially with having to get the spare room redone for a nursery. That would pay for a new window, drywall and flooring. Anyone know what my options are here?

You need to contact the entity who issued the bonds, tell them you inherited them (which you legally did), and ask what paperwork you need to show in order to cash them in. I suspect you might be asked for all the legal documents: death certificates for both grandparents and your mom (so sorry ), copies of their wills, proof that you are the daughter/granddaughter.

If you need documents you don't have (and don't want to ask your aunt), they are public information and you can get copies, probably at the local courthouse where your mother and/ or grandparents lived.

Since the estate is closed, you do not have to deal with your cranky aunt, her time of handling the estate is over. But you will have to make some phone calls and get some documents if you don't already have them. Good luck!

You may need to check with a bank and maybe social security. Have proof of all deceased parties - not sure if you can cash them as you are not really legal beneficiary.

It says to return to the Dept of Treasury, or any federal reserve bank. So, do all federally insured banks fall under that?

I figured I would have to get copies of the death cert but also their wills? I have a copy of my parents' will around here somewhere but my grandparents' will is another story. Would it be on file at the court house or somewhere?

The bonds are legally yours since the estate is closed. Besides, the darkroom was left to your mom and they were in the darkroom. Yes, you get the documents at the local courthouse(s), but find out exactly what you need before you go chasing paperwork. I'd start by checking the Department of Treasury website, and by calling my local bank for more info.

p.s. Don't forget the interest earned on the bonds is taxable. Yuck.

Here's a link to the Federal Reserve system which will show the locations. There are twelve in the country, mostly in the larger cities. It's not hte same sort of bank as a federally insured bank (e.g., Chase).

http://www.federalreserve.gov/otherfrb.htm

Good luck getting it sorted out. Were the bonds referenced in any will - I'm not sure that just because they were in the darkroom, your mom or you would be the heir - unless the will states that the darkroom and all its contents went to your mom.

Originally Posted by darlili

Here's a link to the Federal Reserve system which will show the locations. There are twelve in the country, mostly in the larger cities. It's not hte same sort of bank as a federally insured bank (e.g., Chase).

http://www.federalreserve.gov/otherfrb.htm

Good luck getting it sorted out. Were the bonds referenced in any will - I'm not sure that just because they were in the darkroom, your mom or you would be the heir - unless the will states that the darkroom and all its contents went to your mom.

Click to expand...

Thanks for the link!

From what I remember, the will said that all camera equipment went to my mother. It was my aunt who decided the darkroom was my responsibility because she didn't want to deal with disposing of the old chemicals or going through the mess. After mt grandfather stopped developing his own pictures the room became a catch all for everything, so there was a LOT of mess! The will didn't state anything about the bonds, which is why I'm wondering all this. Too bad I couldn't have just found cash instead!