If there are savings bonds in both mine and my mother’s name, are they still mine ifthey were purchased for primarily for me?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If there are savings bonds in both mine and my mother’s name, are they still mine ifthey were purchased for primarily for me?

I am 18 year old and I’ve asked for them multiple times. My living situation at home is not healthy, with a father that is a drunk. I can’t finish my schooling with this stress. Also, I don’t have a car or an apartment because my mom won’t let me have my savings bonds. I need the money that is mine for starting my future.

Asked on August 18, 2011 Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If the savings bonds that you write about are in your and your mother's names, you and she are their joint owners. You are 18 years old and considered by law an adult. You are in a difficult home situation and I understand your desire to obtain the savings bonds to better things for you.

The problem is that no bank will negotiate the savings bongs made out jointly to you and your mother without her signature. Your mother also is in a difficult situation from what you have written. You need to sit down with her and discuss what you want to do with the savings bonds if the proceeds from them are entirely released to you.

If the savings bonds were purchased primarily for you, they are technically all yours even though they are jointly held by you and your mother.

Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption