misty101
11-13-2008, 04:59 PM
I am trying to settle my mother's estate (tax returns) it is an estate well under $1,000,000 but over $675,000. Through the years my mother gave all of her children and later grandchildren savings bonds. She always gave bonds in both her name and ours - never gift bonds. The day she purchased them was the day we received them and they have always been in our possession to save or cash in as we pleased. I have heard that if bonds are older than 3 years old and if they have been in our possession than they do not need to be included on the tax returns - is there any validity to this? Both my sibblings have cashed in their bonds shortly after they received them (or so they say). Only myself and my children have not cashed them through the years - we have been saving the bonds for them to use for college. Is there a point of law about this? Any information would be aprreciated.