Although their popularity seems to have gone by the wayside, it seems like we all have them or we know someone who does – U.S. Savings Bonds. According to this site, 14.9% of families have savings bonds, which makes up 0.4% of families’ assets. And according to this site, the average American household has over $1,800 in U.S. Savings Bonds. So you can see that although they are not a large part of the overal “net worth” of the average American family, they are widely owned.
As a Grand Rapids, Mi wills and trusts attorney, I’ve had a several families ask me how to transfer their U.S. Savings Bonds into their living trust. This will help ensure that they can be properly handled if you become incapacitated or pass away. The great news is that it’s not very difficult to transfer U.S. Savings Bonds to your living trust.
First, a technical matter. We don’t “transfer” the U.S. Savings Bonds to our trust . . . we have them “reissued” to properly register them to our trust. To do so, start by going to this U.S. Treasury site. From there you can download and fill out Form PDF 1851, which is specifically for reissuing the bonds in the name of a personal trust. The form has surprisingly good instructions and will guide you through properly completing the form and returning it to the U.S Treasury Department.
Michael Lichterman is an estate planning and charitable planning attorney who helps families and business owners create a lasting legacy by planning for their Whole Family Wealth™. This goes beyond merely planning for “stuff” – it’s about who your are and what’s important to you. He focuses on estate, charitable, and asset protection planning for all generations (“young” and “experienced”), the “sandwich generation” (caring for parents and children), doctors/physicians, nurses, lawyers, dentists, professionals with minor children, family owned businesses, and pet planning. He enjoys creating life long relationships with his clients centered on their families values, insights, stories and experiences.
IMPORTANT: Michael is licensed to practice law in the State of Michigan and have offices in Kent County. I am ethically required to state that the above information does not create an attorney/client relationship. These posts should be considered general legal education and are intended to provide general information the topic discussed. Frequently, differing facts about the particular individual or family, if known, could significantly change the recommendations made in the blog post. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state. The law changes frequently and varies from state to state.