About Tom Adams Expertise I can answer questions about US Savings Bonds - current value, current interest rates, how to get them redeemed, what to do if they are lost or stolen, how to buy them online, etc...
Experience Experience in the area I am the author of the best-selling book about Savings Bonds,
Savings Bond Advisor.
Expert: Tom Adams Date: 12/14/2007 Subject: How do I redeem E Savings Bonds
Question A friend borrowed some money from me and repaid the debt with some E Savings Bonds. not knowing much about Bonds, I accepted them. The Savings Bonds were issued in his dad's name and his dad is deceased. How can I get these Bonds cashed? Thanks
Answer Hi Jim - I hope this person is still your friend, because Savings Bonds don't work as loan collateral. Only the person named on the bonds can cash them. Since that person is dead, only his heirs can cash them.
If your friend was the only heir and you can get him to cash the bond and give you the money, you'll come out ok. You should look on my web site to see how much the bond is worth - you'll need to enter the Series, Face Value, and Month and Year of issue. It might be worth a lot more or a lot less than you and your friend think. Here's the URL:
To cash the check, your friend will need to fill out a form and send it in with a copy of his dad's death certificate. The form he needs to use depends on whether his dad's estate was handled by a probate court or not. Let me know.
