Need suggestions from fellow Soc lovers

[I cry_ in_the_dark]

I have several thousands of dollars in Savings bonds that belong to my children, purchased by both myself and family. These bonds were purchased with the intent for college. The majority of them have my name on them also.

My 15, soon to be 16 year old wants a car, so her father has told her to get me to give her those savings bonds. Of course, I refuse. He's now telling her to report the bonds stolen. They will re-issue those bonds, so of course.......I'm over-ridden.

Any ideas where to turn?

[Jade]

>I have several thousands of dollars in Savings bonds that
>belong to my children, purchased by both myself and family.
>These bonds were purchased with the intent for college. The
>majority of them have my name on them also.
>
>My 15, soon to be 16 year old wants a car, so her father has
>told her to get me to give her those savings bonds. Of course,
>I refuse. He's now telling her to report the bonds stolen.
>They will re-issue those bonds, so of course.......I'm
>over-ridden.
>
>Any ideas where to turn?

I would sit your daughter down and explain if she were to report them as stolen when they are not, she is commiting a crime.  And that is wrong.  

You could also contact a lawyer to see if there is anything you can do about her father encouraging her to commit a crime.  

[Jade]

>I have several thousands of dollars in Savings bonds that
>belong to my children, purchased by both myself and family.
>These bonds were purchased with the intent for college. The
>majority of them have my name on them also.
>
>My 15, soon to be 16 year old wants a car, so her father has
>told her to get me to give her those savings bonds. Of course,
>I refuse. He's now telling her to report the bonds stolen.
>They will re-issue those bonds, so of course.......I'm
>over-ridden.
>
>Any ideas where to turn?

I would sit your daughter down and explain if she were to report them as stolen when they are not, she is commiting a crime.  And that is wrong.  

You could also contact a lawyer to see if there is anything you can do about her father encouraging her to commit a crime.  

[mistoffolees]

You have a wide array of options - ranging from really mean to neutral:

A lot depends on who was given ownership of those bonds in the divorce settlement. Also, who has legal custody of the kids?

Some of your options:

1. Cash the bonds in and put the money into a Section 529 College account. Section 529 accounts are great because the money is technically in the kids' name, but they can't access it until age 18 and the money must be used for college (you pay a significant pentalty if you use it for anything else). That way, the money is preserved for college and the US Gov will see that they were not lost. Keep good records of the transfer.

2. Cash the bonds and buy new bonds in your name only.

3. Send the ex a certified, return receipt letter stating that you have the bonds and they are not lost and that you are holding them for college as you had agreed earlier. You might or might not choose to add a paragraph expressing your displeasure that he is encouraging the child to participate in his illegal activity.

4. Wait until it happens then report him for fraud. However, you'd have to prove that he knew the bonds were still in your possession for this to stick, so you probably need to do something like #3.

5. Give him half in exchange for a letter saying that he has no right to the rest AND he will contribute an equal or greater amount when it's time to pay for college.

There are plenty of other options, but that gives you some idea. The key, however, is whether you have the legal right to do ANYTHING with those bonds. If they were marital property (it sounds like they probably were) and were not disclosed at the time of the divorce, then you have a mess on your hands and you'll need to sort it out (probably by giving him half). If, on the other hand, they were disclosed in the divorce and they were given to you, you can probably do any of the above.

[MixedBag]

You have a PM.

[I cry_ in_the_dark]

If you will send us notification that you have the bonds, providing the registration and bond numbers, and that there is a possibility a claim may be filed, we will make note of it on our records.  However, unless a certifying officer feels she is sufficient understanding to make the request, a parent would have to sign an application on the minors behalf and if a parent is also named on the bond, that persons signature will also be required before the bonds can be replaced.  The address to submit the information to is:

BUREAU OF THE PUBLIC DEBT
DEPARTMENT OF THE TREASURY
PO BOX 7012
PARKERSBURG WV 26106-7012

There's the answer for anyone that may need it.

[gemini3]

Who's the custodial parent?

[I cry_ in_the_dark]

Joint Legal
Him-primary physical
Me-partial physical