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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: savings bonds in trust Date: 7/5/2000 4:48 PM
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Greetings, ELNbluemax2, and welcome. You wrote:

<<I had US savings bonds with John OR Mary Smith as owners. When Trust was set up, my instruction sheet said the wording should be changed to John AND Mary Smith, Co-Trustees of Smith Family Trust. Is there something wrong with that??? John passed away..and, now, half the value is being PROBATED. I'm angry! Is that correct or do I have a legitimate complaint???>>

Well, I'm not a lawyer, but it sure sounds like an issue of how title was designated to me. The "or" allows property to pass outside of probate, but the "and" probably denotes a "tenants in common" ownership that is required to go through probate.

Regards..Pixy
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