Legal Question in Wills and Trusts in Ohio

pod bonds

I received a letter from an attorney in Fla. where my grandmother lives in assisted living. It states '' I am preparing the estate plans for your grandmother. In order to prepare these plans I need, and am requesting, the return of all U.S. Treasury Bonds that your Grandmother gave you or your children.'' Some of the bonds are POD and some are grandma/or grandchild. Do I have to send these bonds back to this attorney or are they considered a gift and mine to keep.


Asked on 11/13/03, 8:29 pm

1 Answer from Attorneys

Re: pod bonds

Bonds that are "Grandmother, payable on death to Grandchild" belong to your grandmother and should be returned to her. Bonds that are "Grandmother OR Grandchild" can be cashed by either party. Each has equal ownership rights in the bonds. Returning them is a moral issue as well as a legal issue. Don't forget the saying "don't cut off your nose to spite your face."

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Answered on 11/14/03, 9:51 am


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