My husband has a savings bond that has matured. Neither one of us has ever had a savings bond and we don't know what to do with it. Any help would be great. Also it is in his name but it is also in his mothers name, who he hasnt seen in 31 years. Can he still cash it even tho someone elses name is on it too?
2007-02-10 11:51:04 · 7 answers · asked by TWil 3 in Business & Finance ➔ Personal Finance
As long as the title does not say "and" then your husband can take it to his bank to cash. If it does not state "and" then the bank will understand it as "or"
I am assuming that the bond is over 30 years old - which means it no longer earns interest. If that is the case, do something else with it. IE., invest, buy another bond (it takes approx 18 yrs for them to reach face value now), or just cash it and use the money.
If your husband cashes it in, he will be responsible for claiming the interest earned on your 2007 taxes.
check out www.savingsbonds.gov (leads to Treasury Direct) to get the value and to find out more information.
2007-02-10 12:00:49 · answer #1 · answered by Christina 3 · 1⤊ 1⤋
Take it to a bank, not a credit union. He will be able to cash it in even though his mom's name is on it. Make sure he takes his ID or Drivers License.
2007-02-10 13:53:57 · answer #2 · answered by Margaret R 1 · 0⤊ 0⤋
how do I cash u s savings bonds with out my name on it
2016-12-01 03:35:47 · answer #3 · answered by DAVE RANDELL ESQ 1 · 0⤊ 0⤋
As long as it says his name OR (his mom's name) he can cash it in at any bank.
2007-02-10 11:54:57 · answer #4 · answered by Holiday Magic 7 · 1⤊ 0⤋
Your bank will cash it and answer any extra questions you have about specific issues .
2007-02-10 11:55:21 · answer #5 · answered by kate 7 · 0⤊ 0⤋
ASLONG AS IT HAS HIS NAME THERE SHOULD NOT BE ANY PROBLEMS TAKE IT TO THE BANK AND ASK THEY SHOULD BE ABLE CASH IT
2007-02-10 11:59:17 · answer #6 · answered by jeffrey' s lil angel 5 · 0⤊ 1⤋
Take it to your bank.
2007-02-10 11:54:19 · answer #7 · answered by JLSN32 2 · 0⤊ 0⤋