6 Things You’ll Regret Keeping in a Safe Deposit Box

safe deposit box
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#2 The Original Copy of Your Will

Your will is one of the few things you should safeguard above all else. Extremely important to protect are other legal documents, such as trust agreements that establish irreversible trusts after death. These documents take priority during the estate distribution procedure and represent the decedent’s ultimate decision regarding the distribution of wealth after death.

It’s a wise idea to keep copies of your will, your spouse’s will, and any other wills in which you’re designated the executor locked up in a safe deposit box. Nevertheless, if you are the only owner of the safe deposit box, do not keep your original will there. Why, specifically: Up until an executor can demonstrate that he or she has the lawful authority to enter the safe deposit box after your death, the bank will keep the safe shut.

To obtain a court order, the executor must typically present an original copy of the deceased’s death certificate as well as the will. The executor might not be able to back up their position if the will is kept sealed inside the safe deposit box.

The conditions under which and at what times the executor may have access to the decedent’s safe deposit box vary by state. It’s important to be aware of the laws of the state where the estate is situated if you are acting as the executor of the estate of a family member.

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