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Savings-Bonds-Alert: Power of attorney for Savings Bonds

Tuesday, October 19, 2004

Power of attorney for Savings Bonds

My dad has six Savings Bonds that he would like to cash in. The problem is that he is in the hospital with kidney failure and can't go to a bank. How does one go about doing this? Tom's response Our contacts at the Savings Bond division say that some banks - particularly smaller community banks - will send their certifying officer to the hospital to help with this. If that's not possible, then download and print out a copy of this form, which will allow your dad to give a durable power of attorney that specifically includes Savings Bonds to you. Your dad's signature will still have to be notarized, but compared to a bank certification, this should be relatively easy. In this case, however, the bank where you go to have your signature certified on the back of the bonds for redemption will not be able to make payment to you. Only a Federal Reserve Bank can do that in this case. Most banks will send the bonds to a Federal Reserve Bank for you, but if yours declines, click here for the information you need on redeeming a Savings Bond through the Federal Reserve.


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