6

I have paper series-I bonds that are made out as follows, actual names omitted:

"husband" and "wife" CO-TR UDT DTDT "date and name of trust"

If both the husband and wife have passed away, what is the procedure for the successor trustee (listed as such in the trust) to cash the bonds in order to carry out the orders as dictated by the trust? Given that the trust is listed by name on the bonds, but the actual successor trustee's name is only listed in the trust.

I have looked at treasurydirect but I have not had any luck understanding what to do in this specific situation.

Chris W. Rea
  • 31,999
  • 17
  • 103
  • 191
piton
  • 499
  • 3
  • 9

1 Answers1

2

I was hoping to hear from somebody who may have dealt with this situation since my experience with financial institutions is that they can make things very difficult, which is of course good in some ways but awful in others. Regardless, I contacted treasurydirect.gov and they wrote the following:

If you are not named in the registration of the bonds as the trustee, or if there are co-trustees named in the registration of the bonds and one of the co-trustees is deceased, the trust agreement will be needed to verify that you are the currently acting trustee. If anybody named in the registration of the bonds is deceased, a certified copy of the death certificate is also required. The Special Form Of Request For Payment Of United States Savings And Retirement Securities Where Use Of A Detached Request Is Authorized (FS Form 1522) is a request for payment form. If FS Form 1522 has been properly completed, signed, and signature(s) certified, the back of each bond does not need to be signed to request payment. The properly completed and signed form is in lieu of signing the back of each and every bond.

The FS Form 1522 is available at: http://www.treasurydirect.gov/forms/sav1522.pdf

Send the entire transaction (bonds, form, evidence) to this office: Treasury Retail Securities Site PO Box 214 Minneapolis, MN 55480-0214

piton
  • 499
  • 3
  • 9