QUESTION
How to cash in Series EE savings bonds left in your father-in-laws name.
Asked on Dec 10th, 2015 on Estate Litigation - New York
More details to this question:
My current wife's father-in-law passed away and left her some Series EE savings bonds. The bonds are still in the father-in-laws name. The only next of kin involved is a sister living out west somewhere. My wife's husband (the son) and her mother-in-law both proceeded the father-in-law in death. There is no will and the estate was not probated. Can she cash in these bonds?
1 ANSWER
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If the value of the Series EE savings bonds are higher than $30K, your wife should file a petition to the court requesting to be appointed as the administrator of her father's estate. She will have to give notice to the sister living out west. Once she is appointed as the administrator, she will have the authority to liquidate the bonds.
If the value is lower than 30K, then she should file for small estates proceeding.
Answered on Dec 15th, 2015 at 9:51 AM