US Savings Bonds

Archive for December, 2005

Question: Is there a difference between EE and E Savings Bonds?

Hubby has some Savings Bonds that he wants to change the beneficiary on the bonds from his ex-wife to me but when I went to the http://www.treasurydirect.gov website and read up on getting the bonds reissued, it says that the beneficiary on E bonds has to sign the forms as well but my hubbys’ bond’s are EE. Will that apply to him? She will not sign and we can not afford to take the matter to court. Any info would be greatly appreciated.

Mary in the tiny village of Onsted, Michigan

Answer: A series “E” bond is simply a savings bond issued prior to 1980. “E” and “EE” are one and the same for the most part. The only major difference is when they were issued. The series will be printed right on the bond itself.

The million dollar question is if the ex-wife is a POD beneficiary or a co-owner.

If the bonds are “E” series, it doesn’t matter. Whether the ex is the POD or a co-owner, she has to sign the form to change the name (the same applies to “H” series).

If the bond is a “EE” or “I” series, your husband can remove a POD beneficiary without the person’s consent or knowledge. If the ex-wife is a co-owner of the bond, then the ex-wife will have to consent to have her name removed from the bond.

So based on the information you provided, if the ex-wife is a POD beneficiary (her name will appear at the bottom of the bond rather than in the address space) and the bond is a series “EE”, you can change it without her consent.

Good luck to you

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Question: I am buying $1000 dollars in US Savings Bonds for my sons college tuition, which ones should i buy?

he is 2 years right now.
I mean which kind, there is I-BOND EE BONDS AND TIPS

Answer: EE bonds are trash. They’re a fixed rate instrument and if you buy one now you’ll earn 1.4% for the next 30 years. Your best bet would be to work with a licensed FA to discuss options such as 529 College Savings plans. Invest that money into something that will actually grow and use the earnings tax-free towards your boy’s college tuition.

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