Quizzes & Puzzles25 mins ago
Premium Bonds After Death
7 Answers
I have just had a phone call from a relative and we got around to talking about Premium Bonds. She said that she'd 'seen it in the paper(I didn't ask which paper!) and cut it out' , an article which stated that now, in order to claim A deceased's Premium Bonds, one needs Power of Attorney. If no Power of Attorney is forthcoming then there is no transfer of bonds to the inheritor. Can anyone confirm this?
Please don't direct me to the NS&I website, I have already been there and cannot find anything about having to have Power of Attorney to inherit, after a year, the Premium Bonds.
I am thinking about mine and Mr T's bonds. We don't have Power of Attorney for each other.
My dad's bonds are different as I do have P.O.A for him.
Please don't direct me to the NS&I website, I have already been there and cannot find anything about having to have Power of Attorney to inherit, after a year, the Premium Bonds.
I am thinking about mine and Mr T's bonds. We don't have Power of Attorney for each other.
My dad's bonds are different as I do have P.O.A for him.
Answers
Best Answer
No best answer has yet been selected by Tilly2. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.nonsense. total nonsense. For one thing POA’s end at death of the person who gave it. So far as I know, you can’t inherit premium bonds, although they can stay in the draw for up to 12 months after the holder’s death.
I think this is what you need.
http:// www.nsa ndi.com /files/ publish ed_file s/asset /pdf/de ath-cla ims-bro chure.p df
I think this is what you need.
http://
Based on my experience with administering my late mother's Will, they are part of the estate and can remain in force for 12 months after the death of the holder (with any winnings obviously going to the estate) then they have to be cashed in with the money once again going to the estate. The Bonds themselves are NOT transferable.
POA not necessary. Probate (or equivalent) is.
POA not necessary. Probate (or equivalent) is.