Should I let her have NS&I bonds?

Dj1Bear

Hello, my Dad has died and we are having to sort out his will. My step sister wants his NS&I bonds (he has a lot) to be transferred to her rather than getting them cashed in. Am I being really thick here? Is there a reason not to cash them in and would I be better keeping my half and not letting her have them?I don't want to cause trouble but can't help wondering if I'm missing something here.
Thanks

Loughton_Monkey

To get any sensible respnses, I think you need to specify (a) what type of bonds, and (b) confirm that the terms and conditions allow them to be transferred upon death.

Otherwise, all I can do is just make a general observation. Whatever bonds they are, they represent some form of saving or investment. In handling the estate, it is legally necessary to 'value' them properly. This would typically be the amount you would get by cashing them in. Therefore, to make the 'choice' to keep them (and transfer ownership) the only way to look at them is to ask yourself "Given the value, and what rates they are paying (expected to pay) in the future, does this represent a desirable investment for me?"

Just to be a bit silly, to make the point - if they were 'fixed interest' at 1%, then because I can get far more than that elswhere, I would much prefer cash. If, on the other hand, they were Inflation (RPI) linked bonds, then I personally would certainly hold on to these for the moment as they currently represent an extremely good return.

So there are several possibilities. Ideally, the two of you should review exactly what these things are. There might be a range - some good some 'bad'. In an ideal world, I would perceive you jointly agreeing to cash in the 'bad' ones to split the cash, and agreeing to share the others by transferring them equally. If you have different views, then you could 'negotitate' some sort of complex split/sale/transfer that ensures that you both get equal value (at today's cash value) and you are both 'happy' with the exact mix of cash/bonds you hold.

A more 'cut throat' approach, if there are major disagreements, might be to split them all down the middle and transfer them. Then each of you has your own way equally clear to either hold them, or cash them entirely according to your own wishes.

CLAPTON

you don't want the bonds

your sister does

so you want them because your sister does

usually it would be a good things to hang on to them but you must tell which they are and the T&Cs

jemjem48

Hi
May Nan had several of these. She had lots of statements so i was able to work out rough estimated valve. With them was a form to fill in giving bond numbers then post it of, i cashed her's in at her request.
If you have no statements they may be able to send you current value of bonds but you may have to prove death (even when cashing in i had to provide proof that i was POA for her)
Value of my Nan's was 13000 she had about 20 some worth more than others so is worth checking
I found Dept was helpful when i spoke to them on the phone if you need to ring them, unsure about signing them over

soulsaver

If they are index linked bonds and you weren't desperate for the money it'd be better to keep 'em. They're the best savings for the future you can get, tax free and index linked.
If you want/need cash let your sister have them and you have the cash equivalent from the estate. If you don't need the cash, have your half assuming they're transferable on death.

Biggles

Index-Linked Savings Certificates (ILSCs) do allow transfer on death. I don't know about other bonds/certificates.

They're a good investment - if you want an investment. Your sister clearly does, and you hadn't seemed too bothered (until she asked for them).