bought $10,000 worth of Series EE savings bonds several years ago and registered them jointly in my name and my son's. Now I'd like to give him full ownership. Can I do this by delivering the paper bonds to him and telling him that he's now the sole owner?

I bought $10,000 worth of Series EE savings bonds several years ago and registered them jointly in my name and my son's. Now I'd like to give him full ownership. Can I do this by delivering the paper bonds to him and telling him that he's now the sole owner?

No. Even if state law permits you to transfer ownership this way, federal law doesn't. You must turn in the bonds and have them reissued in your son's name; otherwise they'll remain part of your taxable estate. To make the transfer, you'll need to complete Form PD F 4000, which you can download at http://www.savingsbonds.gov/forms/sav4000.pdf.