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Her bank simply won't cash savings bonds for POA's, as a rule. I'm wondering if I could bring her to the bank with me even though she is suffering with Alzheimer's/dementia and lives in an assisted living memory care unit. Would they cash them with her present, and if she can sign? Anyone have experience with this mess? Is there an institution you can think of that would not require her to be there, if nothing else? I'd be willing to open an account at a credit union if that would work. IDK. This is nuts. I am seeing an eldercare lawyer at the time. We're just waiting to see what the bank says about the POA paperwork I gave them. They've been giving me a hard time on just honoring the poa as a valid contract so I can't even look at her bank accounts. My lawyer said my durable poa is valid!



I really don't want to rely on treasurydirect and waiting 13 weeks to MAYBE get the bonds cashed. The wait times just to speak to someone through their customer service is over an hour and a half. I can only imagine the hassle if anything didn't go smoothly. I'm needing to put all of her money in my account to oversee her care. This is all too much! Thanks for any comments or guidance!

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Just want you to realize that bonds will have lots of interest that Mom will have to claim on her taxes. The double Es, I think, mature after 18 yrs. Meaning, you paid $50 for a $100. So at maturity, Mom made interest of $50 on that one bond. Bonds collect interest till 30 yrs old at which time it stops. When we cashed in our 30 yr old bonds, we made $50,000 in interest. We invested all but 15k we kept out for taxes. We ended up owing 13k. So make sure you keep out money for taxes.
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You are going to have to rely on Treasury Dept for redeeming these bonds. You will have to write and request redemption certificates and fill them out and you will be sending your POA documents according to what information I can find on the internet.
I don't know of another choice as the banks won't do this apparently. This won't be a quick or easy process I am thinking. Contact Treasury Direct with your questions on how a POA helps to cash in bonds.

Cash EE or I savings bonds — TreasuryDirect
They do have full information on ordering the forms to cash these in, and how an "attorney in fact" can cash them in for you with the proper forms.
Again. Not easy. Not quick.
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https://www.treasurydirect.gov/forms

You need to go to the above addy and then u will need to scroll to:

Form SAV0105.PDF
Power of Attorney, US Savings Bonds and notes
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