POD savings bond question?
Scenario: My 6 yr old son was issued a POD Patriot Bond by great grandma.
Great grandma died this year, we have a certified copy of her death certificate.
Bond is only 6 years mature.
Question: does the bond maturity date end at her date of death, or will it continue to mature even though she's passed?
I'm interpreting 'payable on death' as: death = maturity date.
My husband interprets it as: death = soonest date it can be redeemed, but will still gain value.
Which one of us is right?
What do you mean by "it doesn't change" ?!
I ask the question because I don't know when the maturity date is.
If maturity date is date of death, then logic speaks for itself that date of death wont change.