Regarding the registration on Savings bonds, if a bond currently has POD between the names, indicating the the first person is the owner and the second is the beneficiary - can the owner change the beneficiary to a co-owner so that the owner does not have to be deceased in order for the other to cash it? I have several that I bought and listed a POD beneficiary and I'd rather now that they could be cashed by either the beneficiary, or by me, the owner. Tom's response You can change a beneficiary into a co-owner at any time without tax consequences. Click here for the details about changing the beneficiary to a co-owner. A link to the form you'll need is near the top of this page.