Legal Question in Wills and Trusts in California
holding savings bonds ranson
The parent of a child invested in series EE bonds for them from early childhood to adulthood. Mail recieved addressed to child, and bonds in their name arrived periodically. The parent holds said mail until ready for the child to turn them into cash. Parent insists child reimburse parent for college tuition else parent will not hand over bonds in order to be cashed.
How does child go about obtaining bonds from parent?
3 Answers from Attorneys
Re: holding savings bonds ranson
Court Order. If the child, if no longer a minor, needs our prompt and direct legal assistance in this unfortunate matter, contact us directly this week.
Re: holding savings bonds ranson
The information you supply is confusing. "...bonds in their names" means that the bonds are owned by and registered in the parents names, so they can do whatever they want. Obviously, they wre putting the money in to offset college costs. But the drift of you question suggests that the bonds are in child's name and that child is now of the age of majority. Just tell the government there is a change in address so it is sent to the child's residence She/he should point out to parents that if bonds not cashed it is the same as if thrown away.
They need to resolve their underlying differences, since the issue of tuition is likely a red herring.
Re: holding savings bonds ranson
Sue for conversion.
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