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Bob
Account deleted

join:2012-07-22
New Jersey
Reviews:
·Optimum Online

reply to signmeuptoo

Re: How do safe deposit boxes work?

The rates vary quite a bit between banks, so it's best to shop around. The fees are charged annually. There are penalties if you don't return both keys. Most banks require you to have an account at the bank.

My bank charges $38 (plus tax) per year.

It's highly recommended that you keep important papers (e.g., deeds, wills, automobile titles, birth certificates, naturalization certificates) in a safe deposit box.

Austinloop

join:2001-08-19
Austin, TX
kudos:1
Reviews:
·AT&T U-Verse

said by Bob:

It's highly recommended that you keep important papers (e.g., deeds, wills, automobile titles, birth certificates, naturalization certificates) in a safe deposit box.

Our lawyer does not recommend keeping wills in a safe deposit box. One's demise will usually cause the safe deposit box to be sealed for some period of time, which would mean that the will is not accessible to whomever one has designated as executor. Our lawyer recommended getting one of the fireproof boxes for wills, living wills, power of attorney's, etc. and keeping them in the fireproof box.

Bob
Account deleted

join:2012-07-22
New Jersey
Reviews:
·Optimum Online

said by Austinloop:

One's demise will usually cause the safe deposit box to be sealed for some period of time,

Not in New Jersey. The executor is allow to retrieve wills and life insurance policies.

You can also add a second (or third) name to the box and access it after death.

Austinloop

join:2001-08-19
Austin, TX
kudos:1
Reviews:
·AT&T U-Verse

said by Bob:

said by Austinloop:

One's demise will usually cause the safe deposit box to be sealed for some period of time,

Not in New Jersey. The executor is allow to retrieve wills and life insurance policies.

You can also add a second (or third) name to the box and access it after death.

That is one state out of 50 (or is it 57). I think I will take my lawyer's advice.

Bob
Account deleted

join:2012-07-22
New Jersey

If your lawyer says the box will be sealed, you need to get a new lawyer.
See - »www.statutes.legis.state.tx.us/D···.htm#36D


Austinloop

join:2001-08-19
Austin, TX
kudos:1
Reviews:
·AT&T U-Verse

said by Bob:

If your lawyer says the box will be sealed, you need to get a new lawyer.
See - »www.statutes.legis.state.tx.us/D···.htm#36D

No, thanks. I honestly don't remember if she said any thing about the sealing, but she did recommend the fire proof box.

Bob
Account deleted

join:2012-07-22
New Jersey

You could end up like this guy - »Need help with an old safe


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