question about savings bonds

[bmoore15]

My grandparents have been giving my siblings and I savings bonds at Christmas and on our birthdays our entire lives. Some of them are now starting to mature and so we want to cash them in so that we can invest them in something else other than having them just sit there not earning any interest. However, when we got them out to look at them we realized that the grandparents have been putting my dad's name on the savings bonds this whole time. But if he cashes them in for us it will be a lot more in taxes to pay since he makes quit a bit more than any of us. So is there any way to transfer ownership of a savings bond to someone else before we cash them in? Thank you in advance for any help or insight you may provide.

 

[14tokihorn]

@ the bottom of the page, the reading touches on your situation, See Link.

From a quick Google