Is my childs savings bond going to be counted against me if reported?

Heres a question. My mom died. I recently received a savings bond valued at 1000 dollars once it matures 30 years from 2005. Its got my sons and my moms name on it. Do i need to report it to dfs. Im worried they will cut us off from foodstamps and cut off his medicaid. I never intend to give him the savings bond until i die. Please. I need advice.


Well-Known Member
Every state is different to some extent on what are allowable assets for the food stamp household. I would simply call the state - anonymously - and ask. You might check local shelters or Samaritan centers, etc., who may have social workers, or even attorney's who give free legal consults, who could help you.


Well-Known Member
In my state, that would not be considered income, but rather assets, and it would not affect your benefits.

I, too, would call anonymously.

Good luck!


Well-Known Member
Not in my state, but it may be different in yours.

However, I doubt that $1000 savings bond in your son's name will count against you.

Call the office to find out for sure, or look it up online.

I know someone here who has more than 10k cash in her savings account and still receives benefits, and yes, she does report this to the state.
Okay. I reported it and sent in my application for food stamps. I just have such high anxiety. I dont want to knowingly lie to the government and get caught. I hope my son wont lose his medicaid because of this savings bond. I will keep you posted.
Okay i had my interview with dfs and they said the savings bond wouldnt affect his food stamps. I got reapproved for food stamps and even got a small increase. So im assuming this savings bond will also not affect my sons medcaid.


Roll With It
I am glad it wasn't a problem. In our area, medicaid has MUCH more lenient rules than food stamps do. The whole purpose is to make sure kids have medical coverage, so they have looser financial rules, etc...