I’m presently making out my will. I have quite a few Savings Bonds. I’m wondering which is the best way to register them so that the least amount of tax will have to be paid. I have been told that for tax purposes, the way the bond is worded can determine the amount of tax that has to be paid by the recipient (for example: with “or” or “pod”). Is this a fact or not? Tom's response The trick to paying the least amount in taxes is to have the person with the lowest tax rate pay them. Click here for more information on tax issues when passing on Savings Bonds. The way you register the bond doesn't effect the taxes so much as lawyer's fees and how quickly your heirs will have access to the money. If they are co-owners ("or") they can cash the bonds before you die; if they are beneficiaries ("pod") they can cash the bonds as soon as they have a copy of your death certificate; if you are the sole owner of the bonds, the bonds will be distributed according to your Will by a probate court, which takes at least six months, can take much longer, and will involve legal and executor fees. Click here for more about registration issues when passing on Savings Bonds.