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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.
1 Answer
- TriciaLv 78 years ago
maturity date does not change with death. it remains the same. why are you continuing to ask same ques. again? if you don't want to believe the answer as you would prefer the other, call the bank.
Source(s): life experience
