We often link to other websites, but we can't be responsible for their content. My query is: in such circumstances, would any prize bond during that l2 months be part of the estate and subject to inheritance tax, where the value of the estate exceeded the exemption allowance? Since they do not expire, you can still cash in old paper Premium Bonds if they’ve been selected. It is a useful concession giving the chance of a windfall after death while the estate is being sorted out, at which point the original investment is returned either to the next of kin of the deceased or his/her estate - the same would apply to any winnings. When can I cash my EE and E bonds? In the Premium Bonds brochure it says that if a holder dies, their Premium Bonds become part of their estate… He also had £30,000 worth of Premium Bonds which he purchased several years after making his will. Review the bond and search for a named survivor. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Savings bonds issued in electronic form must be at least $25. Premium Bonds are held with National Savings & Investments (NS&I) and the Probate limit for assets held with NS&I is currently £5,000. Cash in my Premium Bonds You’ll need your holder’s number and bank account details to hand. A savings bond is typically cashed only to the person whose name is on it, but in the event of a person's death before the savings bond is cashed, a few different rules may apply.Depending on the situation at hand, the process to cash the savings bond may vary. Editor, Marcus Herbert. A You are quite right that premium bonds can continue to participate in the monthly draws for a year after the holder dies. Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News, Premium bonds -cashing in after death — MoneySavingExpert Forum. First introduced in 1956, some people opt to invest in Premium Bonds. They are not financial advice and you should not treat them as such. A You are quite right that premium bonds can continue to participate in the monthly draws for a year after the holder dies. Perfect if you want to cash in specific Bonds or you’re not registered. may be distributed in full or in increments of $100. You may, however, be contacted by the NS&I after applying to cash in your Premium Bond to show evidence of identity, especially if your bonds were bought as a child and you are now over 16. The winnings are added to the estate but if you've opted for any prizes to be re-invested as new bonds, that doesn't happen after death. National Savings & Investments says that if … If that's correct, the winnings would form part of the deceased's estate - or would they? If your loved one held premium bonds before they died, the executor or main beneficiary can choose to either cash in the investment or request for it to remain as it is. Bonds will remain in each prize draw for up to 12 months after the date of the customer’s death. If the NS&I savings you are . savings bonds (Series EE, E, I, HH, and H) may not be split. If you are the beneficiary of the savings, you can ask for some or all of the savings to be reinvested or transferred into one or 9 March at 8:49AM edited 9 March at 8:50AM in Savings & Investments. For both of these options you’ll already need to be registered with the NS&I online and phone service, and have your NS&I holder’s number and password to hand. As an executor, do I still have to seek probate for these bonds? 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