Basically the situation is this: When I was born apparently unannounced to me, my grandfather started collecting savings bonds for me in various amounts. The amount is $10,000.00 dollars. I just learned about them today. Now the situation is thus, my father wants me to cash the savings bonds and pay off my debts and only keep a small amount for myself. He says that if I do not agree to this that he will just tell my uncle (which is power of attorney) to cash them and just split the money between the sons (my dad, uncles). I have NO problem or issue with getting the bonds and paying off debt. But I do have a problem with someone TELLING me what I'm going to do or else. Make sense? I just want to know if being the savings bonds are in MY name. Can they legally do this? Cash the savings bonds before my grandfather passes away. PLEASE DO NOT THINK THAT THIS IS JUST ANOTHER GREEDY GRAND CHILD...I would MUCH rather have my grandfather alive and well. I just want to look at the legal side of things.

If you are over 18, and the bonds were made out to you then NO, They can not, even with POA. If your grandfather made out the savings bond in HIS name with the intention of saving it for you or willing them to you, then yes. However, you can pursue legal action if your uncle is abusing his POA and you can inform them both that if they do you will contest it. If the POA Is liquidating assets NOT To pay debts or medical bills, then he can be held liable for damages to the estate and beneficiaries. Alt option, LIE. If he will be passing soon, stall your decision. Also, If your father is being the jerk he sounds, money means something to him. Point out that the tax options of cashing this in BEFORE death is going to hurt you more than inheriting it. You will pay more taxes and if you don't make a lot of money, you could end up owing at the end of the year. I'm sorry you are backed in a corner like this. I would call around and call a lawyer now to protect yourself. If you have debt, you must be over 18. I'd say no, don't. Besides, POA is only good while he is alive. Once he dies, the executor of the estate MUST uphold what is written out in the will. If you are listed as inheriting this bond and he tries to split or liquidate it again he is at fault. Some links: http://www.bankrate.com/brm/news/dollardiva/20010827a.asp http://wwws.publicdebt.treas.gov/BC/SBCPrice