An article in the Jan. 11, 2009 PalmBeachDailyNews.com by Gloria Kaplan at the American Red Cross offers a great idea: If you have Series E U. S. Bonds issued between May 1941, and November 1965 and December 1965 and August 1978, cash them in to make a charitable gift.

These bonds are no longer earning interest because they have reached final maturity. By donating the proceeds to ASNE Foundation in support of the Journalism for a New Age endowment campaign, your gift will stretch further when it is matched by the Knight Foundation’s campaign challenge grant. (They will give us $2 for every $3 we receive from donors.)

You can cash in the bonds at a bank where you have held an active account for six months or more. If you itemize your deductions, a charitable tax deduction will help offset the income taxes incurred from the bonds’ proceeds.

For more information about savings bonds and their use in estate planning, see here.

http://www.palmbeachdailynews.com/search/content/specialsections/estateplanning/2009/01/11/EP_011109_KaplanRedCross.html