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Can an heir claim on medium term notes from Swiss banks before the bond term is complete? I inherited a stack of Swiss medium term notes from my dad and would like to convert them to cash ASAP.
Hi there,
In Switzerland, medium term notes are counted as wealth for inheritance purposes and must be distributed as per Swiss rules of succession.
Medium term notes can be cashed out ahead of maturation during inheritance proceedings. However, doing this is not recommended because in cashin out a note ahead of schedule, bearers forfeit unpaid yields and may also have to pay penalties.
Ideally, you should wait until the notes mature rather than terminating them ahead of schedule.
Best regards from Moneyguru
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