OT Estate Settling

John B. · Nov 25, 2016

A co-worker of mine lost her mother this year. Their mother had some savings bonds that were never cashed in. The executor went to cash them in and none of the numerous banks in town here would accept them even with the death certificate. They ended up sending them to Springfield IL and still haven't heard back. Has anyone else encountered this in any other state other than here in Illinois?

David G · Nov 25, 2016

You will probably need an assignment of executor letter signed by a judge before you can cash them unless you are listed on bonds.

John T Country Lawyer · Nov 25, 2016

I settle Estates for clients in Indiana where if the net value of the estate is less then a certain amount you can wait 45 days and file a small estate affidavit to distribute assets piece of cake..........If the estate requires formal administration you're talkin more work and expense. Of course, an original signed and stamped (NOT a copy) death certificate is the very first thing you will need and then maybe an estate EIN but THIS IS A QUESTION FOR LOCAL PROFESSIONALS but mainly the Saving Bonds people to answer. If it were Indiana I could answer all your questions but some of this is state sensitive.

John T BSEE, JD Attorney at Law

Jim in rush co · Nov 25, 2016

A lot will depend on the bank and on the bond. Go to a bank that you have accounts with as not all will be willing to do paper work. Series EE will be a little easier, Series HH need to go to Federal Reserve Banks or the Bureau of Public Debt.

OT Estate Settling

John B.

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David G

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John T Country Lawyer

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Jim in rush co

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