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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31782
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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My father passed away a little over a year ago and left approximately

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My father passed away a little over a year ago and left approximately 180 $100 EE Savings Bonds that he purchased back in the 80's. My name (I am the oldest of 3 children) was put on each and every bond. Dad talked about the bonds frequently and told me that the bonds' value was to be split equally among the 3 of his children. He left me in charge of making the disbursements when I deemed feasible.

I am SICK, absolutely ILL right now. I got divorced 3 years ago and today, after struggling with debt that has spun out of control, I went to speak with a bankruptcy lawyer. In Illinois, what is going to happen to the savings bonds? My sister, brother and I were planning on just sitting on them until retirement (we are all in our late 40's).

What will happen to these bonds?

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.

 

If the bonds are in your name, they will be considered your property and will be subject to the trustee's acquisition if you file.

 

Generally, there's a 2 year look back period for any property transfers. Thus, the trustee can reverse any transaction and re-take the property if you were to transfer the bonds into someone else's name within 2 years of filing bankruptcy.

Roger and other Bankruptcy Law Specialists are ready to help you
Customer: replied 6 years ago.

Does the bonds being in my father's name first and my name secondarily having any bearing?

 

If you're listed as an owner of the bonds, it would be included as an asset in bankruptcy unless it is a future interest that you won't inherit until some future date. However, if the you have the ability to sell the bonds, they will be an asset