Boxes {safety deposit box} {safe-deposit box}| in bank vaults can hold valuable documents.
contents
Bonds, stocks, property records, mortgages, securities, titles, deeds, birth certificates, marriage certificates, death certificates, jewelry, mementos, military records, church records, valid passports, citizenship papers, important contracts, titles to boats and cars and trailers, insurance policies, possession inventory, copy of will, and valuable papers and documents are in box.
cost
Safety deposit boxes cost a nominal amount per year, depending on size.
insurance
Contracts for boxes seldom include insurance on contents.
access
Safety deposit boxes have two keys, one for bank and one for customer. Opening box requires both.
access: death
On person's death, bank seals box for inventory for state tax and inheritance laws. Later, estate executor distributes contents. In case of joint ownership, depending on state, survivor can have complete ownership and access, death of any owner can seal box, or survivor has limited access to look for will, burial instructions, or insurance policies.
Practical Affairs>Financial Affairs>Banking
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Date Modified: 2022.0224