Premium Bonds After Death

[Tilly2]

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.

[Prudie]

When my mother died her bonds were cashed in and became part of her estate as handled by the solicitor. Not that it helps you, you want to take on the same numbers?

[Birdfeeder]

when my husband died I was able to cash in his premium bonds once probate had gone through. I just rang NS&I up and there was no problem. You can leave the bonds in for 12 months after the death but cannot transfer them to another person, they have to be cashed in. Hope this helps

[woofgang]

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.nsandi.com/files/published_files/asset/pdf/death-claims-brochure.pdf

[Canary42]

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.

[woofgang]

you can’t have POA over a dead person’s affairs, you just can’t. POA ends at death.

[Tilly2]

Thank you all. I think she (my relative) has got the wrong end of the stick.

She gave the impression that it was a new 'rule' and she is thinking of cashing her bonds in so that her OH doesn't lose out.

[Jennykenny]

As with the above answers, I inherited my husband's Premium Bonds, and left them in for the year that is allowed. They won £300.00 in £25.00 prizes.