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If a will states that an heir is to receive $10,000, is it…

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If a will states that...
If a will states that an heir is to receive $10,000, is it legal to give the heir $10,000 in US savings bonds instead of cash?
Submitted: 7 months ago.Category: Legal
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11/30/2017
Lawyer: Legal Eagle, Lawyer replied 7 months ago
Legal Eagle
Legal Eagle, Lawyer
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Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

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Lawyer: Legal Eagle, Lawyer replied 7 months ago

Thanks so much for your patience. Generally, whether cash or the bonds is okay depends on the common sense interpretation of the will. If the will specifically says cash, then bonds wont' be acceptable. If the will just says $10,000, then it is probable that a probate court would consider the bonds to be acceptable. What other questions did you have for me?

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Customer reply replied 7 months ago
Thanks for the answer. One quick follow up. Would substituting US savings bonds for cash still be allowable is there are three heirs who are each designated in the will to receive $10,000 and there would be no way to divide the savings bonds in such a way that each heir would receive exactly $10,000 worth and each heir would receive a slightly different amount? (Someone might get $10,007 in bonds while someone else might get $10,075 in bonds, for example.) Still legal?
Lawyer: Legal Eagle, Lawyer replied 7 months ago

You're welcome! It's still probably legal to do that. A court would probably not care if there were slight differences like that if there is no exact way to make that happen. This happens sometimes with some stocks and bonds because their value can fluctuate and it's not as easy to divide as cash. Even if you had cash, if they said that you were to split $10,000 between three people, the math makes it impossible to make it even, because it would be like $3,333.33 with $.01 left over, meaning someone is going to get $3,333.34. Thus, a few dollars difference is probably not a big deal.

Did you have any other questions for me?

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