Originally posted by Zigenare
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BOOM: Premium Bonds
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Originally posted by AtW View Post
Are you saying that they can’t be cashed out by whoever inherits the estate?When freedom comes along, don't PISH in the water supply.....Comment
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Originally posted by TestMangler View PostI can tell you for a fact that when they are part of a deceased estate, they can be cashed out and become part of the estate (in money), unless they've changed the rules in the last 12 months.Comment
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Originally posted by AtW View Post“Biggest increase to Premium Bond prize rate for 40 years
100,000 more prizes could be given out next month to premium bond holders
The Premium Bond prize rate will increase from 1.4pc to 2.2pc next month – the biggest rate rise since 1980.
National Savings & Investments said the increase would boost the overall size of the prize pot by £76m and will mean almost 100,000 more prizes are given out next month.
The last time NS&I announced an increase as big was in July 1980, when it changed the prize fund rate to 7pc from 5.75pc, an increase of 1.25 percentage points.
Premium Bonds are Britain’s biggest savings scheme, with over 22 million holders, and offer prizes of between £25 and £1m a month. This is the first time returns have passed 2pc since November 2008, during the financial crisis, when the rate was 2.85pc.
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https://www.telegraph.co.uk/personal...e-forty-years/Comment
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Originally posted by AtW View Post
That’s what quick search suggests, they are part of the estate so obviously inheritable - just can’t change name on account, but since it’s no ISA cashing it out is hardly a problemWhen freedom comes along, don't PISH in the water supply.....Comment
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Originally posted by mogga71 View PostMy family has £100k in them. The odds of winning the £1M is still absolutely astronomical. As soon as the FED pivots I will be using the money to invest elsewhere. They would be better off breaking the 2 £1M prizes into 20 100k prizes IMO.Comment
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Originally posted by AtW View Post
That’s what quick search suggests, they are part of the estate so obviously inheritable - just can’t change name on account, but since it’s no ISA cashing it out is hardly a problem
Old Greg - In search of acceptance since Mar 2007. Hoping each leap will be his last.Comment
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Originally posted by pr1 View Post
50,000 in 59,082,205,208!
In a year you have the following probabilities.
First Law of Contracting: Only the strong surviveComment
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Originally posted by Zigenare View PostPremium Bonds are not an asset that can be passed on to a beneficiary in the same way that funds from bank accounts and savings accounts can; they cannot simply be inherited or transferred to someone else's name.
If the NS&I savings you are claiming include Premium Bonds, you can continue the holding in the deceased’s name. Bonds will remain in each prize draw for up to 12 months after the date of the customer’s death.
To keep the Bonds invested, you’ll need to send the Bonds to us along with the completed claim form. Bonds can’t be transferred into another person’s name but will be kept on record for 12 months and prizes will be sent
to the person who is entitled to the money. If the Bonds can’t be found at the time of the claim but are found at a later date, you’ll need to destroy them.
At the end of 12 months, the value of the Bonds will be paid out to the person who is entitled to the money. You can apply
for repayment at any time during this 12-month period.“
https://www.nsandi-adviser.com/sites...t-friendly.pdfComment
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Originally posted by AtW View Post
“Premium Bonds
If the NS&I savings you are claiming include Premium Bonds, you can continue the holding in the deceased’s name. Bonds will remain in each prize draw for up to 12 months after the date of the customer’s death.
To keep the Bonds invested, you’ll need to send the Bonds to us along with the completed claim form. Bonds can’t be transferred into another person’s name but will be kept on record for 12 months and prizes will be sent to the person who is entitled to the money. If the Bonds can’t be found at the time of the claim but are found at a later date, you’ll need to destroy them.
At the end of 12 months, the value of the Bonds will be paid out to the person who is entitled to the money. You can apply
for repayment at any time during this 12-month period.“
https://www.nsandi-adviser.com/sites...t-friendly.pdfOld Greg - In search of acceptance since Mar 2007. Hoping each leap will be his last.Comment
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