Legal Question in Family Law in Connecticut
I have savings bonds that, when she bought them, myy grandmother was alive so they have my name on them and hers. They are mature but I have been holding onto them because they are the older type. In ten years, when they stop accruing interest, they will be worth even more. What happens if i want to transfer them in name to one of my sons...the one that is eighteen...it would probably hurt him in terms of financial aid at college. But how about my eleven year old? My sister? My husband is mentally ill and it is getting to be too much. I may need to file for divorce or separation soon. She meant these as a gift for me, not a gift to us as a couple. They are in my name only but I assume you will say that does not mean anything. She set them up a few years after we were married.
2 Answers from Attorneys
You can't transfer them; you'd have to cash them in.
As for the divorce, that gets a little tricky. Generally, you get to keep things you get as an inheritance or a gift. But sometimes the court says you keep the value at the time of the gift, but split the increase in value after the gift. It all depends on the total financial picture, though, so I can't be precise without more detailed information.
I am not so sure you can't "transfer" them. It's hard for me to believe that you can't go to a bank and transfer them to your sister.
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