duties of personal rep

What is the name of your state? Nebraska

Aunt died with no spouse or kids. No will so nieces nephews split estate. My question is there are several POD savings bonds to great nieces and nephews. Do I need to notice the great nieces and nephews or can I just wait until I close the estate and then give them the bonds?

repofauntie said:

What is the name of your state? Nebraska

Aunt died with no spouse or kids. No will so nieces nephews split estate. My question is there are several POD savings bonds to great nieces and nephews. Do I need to notice the great nieces and nephews or can I just wait until I close the estate and then give them the bonds?

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Where's that bond money right now?

repforauntie

POD savings bonds are uncashed and in my possession. Some have not matured.

repofauntie said:

POD savings bonds are uncashed and in my possession. Some have not matured.

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Thank you. POD accounts do not go through probate. The monies go directly to the beneficiaries (grand nieces & nephews). Provide the beneficiaries with a death certificate or means for them to get a death certificate and the info they need to claim their monies. If the beneficiaries are minors, either a Trust is set up or a guardian of estate (per beneficiary) with the court appointing a Trustee/Guardian.

If probate has not been opened, someone needs to do so. It will be an intestate probate case (without a will). Google your state's intestate statutes.

probate file

Probate opened. But should I hang on to the savings bonds until taxes paid so I know theres enuff $ for taxes or any other bills? I didnt list the savings bonds in file but didn't know when I have to give them to great nieces and nephews. They don't even know they inherited them yet.

Did You Not Understand My Previous Reply?

repofauntie said:

Probate opened. But should I hang on to the savings bonds until taxes paid so I know theres enuff $ for taxes or any other bills? I didnt list the savings bonds in file but didn't know when I have to give them to great nieces and nephews. They don't even know they inherited them yet.

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No, you do not hang on to the savings bonds. No, you do not pay any of the estate's taxes or bills with the savings bonds.

As a Personal Representative, you have a fiduciary duty to provide the beneficiaries with the info they require to claim their monies. That money belongs to them, not the estate.

Should the estate have any outstanding bills, etc. and no money, the estate is bankrupt. Then, you tell the creditors to bite rocks.