Safe Deposit Box Realities No One Will Tell You

[@orbs1062]

My Dad ALWAYS told me, no matter what, when, or where, upon my death, go IMMEDIATELY to the bank, show no emotion, clean out the safe deposit box. And always take care of your Mom. He made me a signatory, so it was easy to get access. Showing no emotion was the hardest thing I ever had to do. He was right. Four years later I'm still taking care of Mom. Good luck folks.

[@studiobencivengamarcusbenc5272]

R Bledsoe I had to this days after my mother died - I was like a ghost - acting like a Swiss watch but it helped me a lot and she wanted it that way - needless to say her loss was hard and still is

[@ellenw391]

WoW I can't believe it wasn't just me! My Mom literally made me swear that I would go and empty the safety deposit box the day she died, after it took her years fighting to get into my Dad's. And I'll because she was painting (she was an artist) and didn't want to stop to sign the bank card. 😥 Not only was I authorized to access it, For few years she would actually make me go to the bank and sign in when I was home visiting so they had a long history of me signing in and wouldn't think twice. I never felt more like a ghoul, but I robot walked & did what she instructed.

[@ellenw391]

Why are they posting a scam movie web site???

[@chrys.w.8022]

@@ellenw391 This sounds so logical. I'll be organizing this w one of my children. Thanks for posting.

[@MsBrooklyn62]

That is important to be a signatory because when you are not is what causes all the problems. My mom was a tight-fisted #$%^&!* who did not handle her death the right way and why we are all paying the price for her selfishness.

[@polycrase]

From my experience, humans get pleasure from making other humans wait. It's all primal, about territoriality and control.

[@justwannasay5454]

Exactly.

[@OttoMatieque]

i will make a sarcastic response in a week or so

[@MikeNaples]

Also, it's "my time is more important than yours."

[@debbiezullo7056]

That and jealousy, yes so true!

[@marlene-rr2ih]

Plain meanness. Some wealthy people use their wills to punish their own children - controlling them even after death.

[@jmurphy6767]

After my mother died, my father went to the bank to see what was in their joint safe deposit box. When he mentioned his wife's passing to the bank rep, she said she couldn't allow him to view the box without a court order, complicating what had been a simple receipt of joint assets by the surviving spouse. This was in New York and it seemed to be a state law/regulation. If he hadn't mentioned her death, he could have cleaned out the box without any fuss.

[@MsBrooklyn62]

Lesson learned-keep your mouth shut!

[@yosquidd242]

Loose lips sink ships!

[@thelmaconvento9696]

Our safety deposit is under me, my husband and my daughter. Everyone knows where the keys are for the box. If me and or my husband passed away will my daughter have access to the box or will she have problems?

[@jmurphy6767]

@@thelmaconvento9696 I think it depends on the state. If it's NYS and the bank knows one of you have died, yes, she will (and you or your husband will). The best I can understand is it has to do with documenting the estate's assets (but I still don't know why that matters in a spousal inheritance). With your daughter involved, that may raise additional issues about who owns which contents of the box - and estate taxes could come into play if they're quite valuable (more often it's just a PITA to get ahold of important documents). You should ask the manager of the bank about it before the survivors in your family have to deal with it.

[@sabine3769]

Interesting

[@chelin7023]

Who would have known? We are instructed to keep important documents in a safe place and the last thing you imagine is for the Bank to be such an obstacle. Thank you!

[@nunya3163]

Well, these hoops are why they are safe places.

[@Milesco]

@@nunya3163 Only up to a point. After a while, it's no longer about safety or security, it's about bureaucracy and obstructionism.

[@babbetteduboise4284]

My mother was wise enough to have me a cosigner on the safety box. As soon as she had to go into hospice, I cleared that thing out so she could see her favorite jewelry before she died. Then she lived for 2 more years with alzheimer's not able to remember her jewelry.

[@oldsesalt8496]

Truly wise.

[@darlahouston4670]

So, so sad…

[@DrRick947]

A few days before my father died, I asked him, “Dad, do you have a safe deposit box?” “Yes, I do,” he said, “It’s box #9 at the bank and the key is in the desk.” After dad died, I went to his desk for the SD box key. Problems: there were three keys; none of them was to a box #9, and none of them was in a bank still in existence. So I spent the first few days after his death researching the history of bank mergers & acquisitions in PA just to find the surviving bank where his SD box might be. At length I found it but the manager was out at training all week. It took nearly three weeks just to get the original will and trust documents. Suggestions: Buy and install a safe and make sure your loved ones know the combination.

[@MsBrooklyn62]

Yeah that would work in a perfect world.

[@burgerman9880]

Do your loved ones want to clean your assets out for themselves? Money is thicker than blood.

[@houseoffolly]

I had a letter of testamentary and the keys , but it still took 4 visits to the bank before they'd let me open the safe deposit box. On one hand maybe they were being careful, on the other hand most likely they didn't know what they were doing .

[@fjcruisefjcruise4527]

He must have been talking about . Bank of America. They'll do anything possible . To make your life miserable

[@benjimenfranklin7650]

Amen !

[@tangoindiamike9189]

So true! But I kicked them in the ass really good. I should have sued them too, but my lawyer suggested that he just send them a warning letter and we'll sue if they continue to ass up. The letter stopped them dead in their tracks because my suit would have been a slam dunk case. They never bothered me again, and they voluntarily sent me a check to appease me.

[@benjimenfranklin7650]

@@tangoindiamike9189 I wish I could say that. I really hate them people. They're a real pain in the rear .

[@GeorgeMinton-jb8ky]

I hate them. The only reason I ever got an account with them was to deposit money in a joint account with my son who lived in Chicago for 4 years while going to school.

[@lovereconciled4210]

You are so right! We are dealing with them now with my hubby as legal guardian/conservator. And DO NOT put your money with Merrill Lynch, which is also BoA. Your money will be held hostage and you are a prisoner of their shenanigans.

[@ronsmith7739]

Never use a bank deposit box ever. Buy a big strong safe.

[@dopeyone4697]

Absolutely right. No safe deposit box in bank also no will needed. Just put joint account on everything or payable on death. Easy to transfer and get money out without providing anything for joint account, and only showing death certificate for beneficiary. I know I am going thru this now with two bank accounts and a safe deposit box.

[@vincenzolee6576]

I agree but: I had a family safe that was a bank safe in the early 1900’s. Empty it weighed over 500 pounds. My home was burglarized-Everything torn up. The safe was secure! However they returned the next night with whatever equipment they needed and stole the whole thing.

[@ronsmith7739]

@@vincenzolee6576 At that point have a security guard as long as one can afford it.

[@MJ-zo5gb]

Yes. And even better is to have the safe completely hidden so that robber won’t even know it’s there. Maybe even have a little fake/cheap safe with junk as a decoy maybe most important of all don’t tell anyone what you got or where it is Except for maybe a spouse and in your will.

[@vincenzolee6576]

@@MJ-zo5gb mine was well hidden. It had a upholstered cover that fit over it so it looked like a shoe rack. I thought that was brilliant. Where did I have it? In the Master Bedroom walk-in closet! The police said that is the first place they look. I felt pretty stupid.

[@positivelybeautiful1]

I’m so sorry to hear such a headache, Thank you for sharing

[@luvzmoveez]

Excellent video. Thank you for assisting the public with your honesty and patronage. Your an excellent lawyer.

[@MsBrooklyn62]

you're not your

[@realtruth172]

i heard that in wisconsin as soon as the person dies the bank locks up the box nobody can get it until the state is there . if you have a will done by an attorney he should have a copy .

[@Milesco]

This is exactly why estate planning lawyers tell their clients NOT to put Wills and trust documents in safe deposit boxes. Put 'em anywhere else, but NOT in a bank safe deposit box!

[@bryceharper446]

You have to speak with your parents when they’re alive and well. My mother told me where all her important papers were and she put my name on everything, I’m an only child so I didn’t have any problems with that.

[@justwannasay5454]

Totally agree.

[@TripReviews]

Good plan👍 just ensure that nothing was forgotten. We did with my mother. A couple of bank account/investment accounts were not assigned a beneficiary, our mistake as we were to get her to the bank to sign for beneficiaries but with her getting weaker and winter weather we just didn’t get her there. Those accounts became part of the estate which also led to the bank demanding an expensive probate.

[@lelandsmith2320]

Nix the safe deposit box. Towards the end my mother said to go clean it out as I was a signatory. Bank screwed up, when they computerized they deleted my name and put my dead step fathers name back on it. I was told paper records were archived in a basement downtown and it would be a lengthy process to get them. Fortunately, on a day she was feeling better she was able to go in person and close out the box. Close the box out now and make other arrangements. Tell relatives that the box was closed so they don't have to spin their wheels.

[@janetsavona7590]

Unless your like my Mom who refuses to tell you anything because she thinks she's giving up her power

[@johanna6050]

THANK YOU for not calling it a safety deposit box!

[@hksurefire9306]

.....I guess I better head to the bank in the morning. Great information! Thank you

[@jamesdooris8453]

You had a court order to open the box, why didn't the judge arrest the bank manager for not obeying the court order

[@MsBrooklyn62]

opening the box for inventory and an order to take possession are 2 different orders.

[@cicefashion4685]

Wooo. That's a lot of trouble to go through. What if there's only a squeaky toy and a gum wrapper in the box? - imagine finding nothing in the box and still having to pay a lawyers fee. 😂😂😂.

[@MikeBDaniels-bv8io]

Moral of the story: DON'T have a safe deposit box!!!

[@fredacuneo5180]

Administrators love to make people wait. It's a display of power. We had a very similar situation with a parent who passed and the bank needed the Order from the courthouse. Damn, just keep a key handy. It was real mess between all of the different parties. Thank you for this video.

[@Milesco]

Banks and investment firms are a royal pain in the ass to deal with.

[@Practice_Kindness-1st]

Thank you for posting such informative videos Paul!

[@americasestateplanninglawy1946]

You’re welcome NL 😎

[@dabprod]

That's exactly why I bought a LARGE old safe that came out of an old bank. Big enough I can actually get inside of it. Fire proof and nobody is going to be able to steal it. Weight well over a ton and took my back hoe/loader to get it off my flatbed trailer. All my important papers etc are safe and secure and me, my wife, and my grown kids know the combination. I hate lawyers and banks.

[@graemewilliams1308]

Same here.

[@jimschuman9926]

Ditto

[@graemewilliams1308]

@@yoojastle2099 I live on high ground.

[@dabprod]

@@yoojastle2099 I live on a mountain. Really.

[@buckstaffvvile9064]

Concur with your last sentence--- and I am a retired lawyer.

[@ying-hongguan4147]

Thank you Paul for real life cases!

[@newhappy8]

WHO is giving these videos thumbs down !!? Don’t like free advice? What in the cornbread hell, y’all??

[@bryceharper446]

They don’t want truth.

[@bcbconklin]

they have competitors in that business; they like to watch and learn, and then give the thumbs-down

[@davidhowick3665]

People with large fingers.. it’s too easy to hit wrong button, I’m sure they were pushed in error

[@yaseensajjad4443]

Must be people who cannot make money in times when people are stuck LOL

[@AE-yt4lx]

People who are just ridiculous?

[@donnariggs1567]

My first thing would be get a hold of my state representative to give it a kick in the arse...I had a 5 year battle over child support...600 phone calls 3 states attorney generals and one letter to my state rep and I had it all settle within one month and a letter of apology from child services...the letter head gives people a kick in the arse and creates a paper trail.

[@kestrelwings]

It seems to me that there should be a process to store a copy of the will with the government decades before someone dies. We depend on a paper will that might be hard to find and the house might burn down.

[@mimaroo1431]

Got rid of my safe deposit box years ago, when I discovered that whatever is in the bank, belongs to the bank. I have made it as easy as possible for my children to be able to get their inheritance, without having to deal with a third party.

[@cynthiakeller5954]

What did you use instead of a safe deposit box?

[@penhaazul288]

@@cynthiakeller5954 a gun safe.

[@edennis8578]

@@Livetoeat171 This from Bankrate: "A safe deposit box lives within the vault of a federally insured bank or credit union. But whatever you put inside that box is not insured by the institution or the government."

[@edennis8578]

@@Livetoeat171 I'm reposting this because my first comment contained the link and it was deleted. From the New York Times: "There are no federal laws governing the boxes; no rules require banks to compensate customers if their property is stolen or destroyed." This was from an article on how the contents of safety deposit boxes go missing and there is no recourse.

[@janetwalsh929]

My dad and I shared a safety deposit box...in both of our names. He also had a safe at home. I was an active POA. I looked all over for his will in LOGICAL places (safe at home an d bank box) ..I finally found his will .... ..in his sock and underwear drawer. Haha

[@billlittle1257]

Another thing about safe deposit boxes is the contents are not insured so your valuables are not covered

[@rekky213]

Best strategy ever: Get rid of the box!

[@millielopez10]

wow we will need a whole new series on this

[@chriswaters3442]

Bankers are not confused: they are grifters.

[@BY-rl7sk]

I am pretty sure I lost a pc of gold bar which was kept in a safe deposit box in a bank. There was nothing I could do about my loss!

[@fobbitguy]

The problem isn't having a safe deposit box.the problem is the individual dad didn't put on of his children on his bank account and tell his children about and give them a copy of the key.

[@intexas9434]

kevin murphy Exactly. My daughter came to Texas on vacation. She was already granted access but we went to the bank just to make sure. I handed her the key I keep in my nightstand and went and sat in the lobby. She got in and out without any issues.

[@rosedwyer9169]

I have done the same. I was on my mother's account and accessed the safe deposit box with no problems. Now my daughter is on my account. She has a key to box as well.

[@whyputaname]

The problem with anything of this nature is that some family members can't be trusted.. Now what if have only one child that can't be trusted..

[@jayblue5310]

@@whyputaname - DONT include them .

[@toekneelorenzo2942]

A copy of key? Isn't that illegal

[@janeozaraga5494]

Register your trusted son or daughter in your safety deposit box. Bank usually gave two duplicate keys. Give one of the duplicate to your son or daughter and the other key yours. I trust my son and daughter rather than my husband. I always inform my sin and daughter what is inside the box.

[@GeorgeMinton-jb8ky]

That is why you buy a safe and keep it at home. If all you store in the safe are documents and vital records then you can just tell them to bite your rear. You just put a moving blanket on it and store in the garage. Most thieves will just look in the house for important stuff not thinking you are dumb enough to keep it in the garage. Then you secure it to the concrete floor. Have you ever seen a thief get a 1000 lbs safe out of a garage with the safe bolted to the floor?

[@RonDevito]

In New York, even if you are beneficiary to a safe deposit box, you have to go to Surrogates Court and petition to be a Small Estate Administrator or an executor based on the value of what's in the box. It has to be the court in which the person was a legal resident. It took me a week of days and trips to the box over a period of three months to finally get the content (all papers with no monetary value).

[@Fanta....]

or just go there and say nothing. its none of their business. then let the payments lapse on the account and ignore their contacts. fk em.

[@RonDevito]

@@Fanta.... - with a beneficiary setup or joint ownership, it's a little easier. You go in, empty the box - then a few days later go in with the death certificate. The box is already empty. Nothing more to do. Or the third option - as a condition for doing PoA or executing a will - the person your caring for has to empty the box and close its account.

[@Beaches4749]

Paul, thanks for your estate planning videos, they are extremely helpful. Can you tell us how a safe deposit box SHOULD be set up (e.g. titled in my trust's name or my name or jointly with my spouse and my executor?) Easy and quick access without government involvement should be the goal during and after my lifetime. What documents should be in (and not in) my safe deposit box? Should I have original or copies of titles to autos, insurance policies, documents to verify authenticity of valuables like artwork and coins/collectibles? Should my original trust documents be in my box? Do you already have a video covering all this stuff?

[@jimschuman9926]

FB Sport : Avoid banks by getting a safe. NEVER trust banks.

[@AMomentInTimeProductions]

Listen i had the same problem, how ever i'm not a pushover and when the bank manager tried to make me get the death certificate i told the bank manger listen we don't need a death certificate, it doesn't matter if my dad is dead or alive the court order specifically says you have to grant me access to the safety deposit box Period, doesn't matter if my Dad is dead or alive you don't need a death certificate, if you refuse to grant me access to this Box, i shall go to the judge who signed this order and have the judge sanction you in contempt of court. Which is what you can do, when a judge signs a court order you must comply with it or you can be held in contempt and be criminally charged this is the entire idea behind a court order.. Don't lest these pinheads try and give you the run around.. Now when i told the bank manager all this he paused for a moment and said hold on, he got on the phone and i assume it was his boss or a lawyer, after he got off the phone he said follow me and led me to the safety deposit box... You can't let these idiots try and pull any BS on you, Failure to comply with a court order can raise serious consequences.. it is written, "If one party ignores a court order or fails to comply with a court order, the other party can file to hold the person in contempt of court. Contempt of court may be either civil or criminal. There are penalties in place for each type of contempt of court. Civil contempt cases usually have sentences that include jail time." Here is the one thing to know, no judge likes to hear that his or her court order was ignored and takes it personally, meaning don't mess with a judge they can get angry and make your life miserable if you piss them off.. So when you got a court order, this is like an order from GOD, no one can stand in your way, if they try they will be sorry let me tell you this.. A court order is very powerful it's use for many things, Police us it for things like a search warrant, or an order for the phone company to allow you access to to wire tapping, or access to some ones medical records, pretty much anything, and yes that includes bank accounts and Safety deposit boxes, That is how the government garnish wages when you owe taxes or child support, it's a court order, they even use court orders to take control of property such as houses boats and vehicles.. Don't let pinheads try and pull and BS on you and make you think they still have a choice, they don't, when a court order is signed, they have no choice but to follow it or there is serious consequences.

[@weekendatbernies2265]

Recently saw another video revealing how crappy the locks on bank boxes are. Some found them emptied out when they came to retrieve their th8ngs

[@kevinbrennan8794]

For us folk over 65 and with only modest assets, a home with a mortgage, couple of vehicles that may or may not be financed, and some savings, what are the best practices for making sure access to checking, savings, and CDs don't get wrapped around a tree when either my spouse of I die?

[@garythornbury9793]

you can do a online will then file it at the court house

[@zas5892]

Thanks good advice I don't have a safe-deposit box but I do know cuz my dad died my aunt died and my mom died all in the Last few years and it really isn't easy it's tough because you miss them and the legal process is the way it has to be so I do understand 😞

[@MsBrooklyn62]

I am dealing with the courts in Florida and I have the keys since I am the PR. So far I have only been allowed to take inventory. I have no idea when or how I will get to empty that out and close the account.

[@MrDavesbox1]

not in Texas...lol....once you go back to our district judges, that bank manager / custodian will be ordered to appear and comply-

[@americasestateplanninglawy1946]

👍 Don’t mess with TX

Never trust a bank. Ever. If you see the government employee approaching you, while uttering the words: 'I am here to help you'. Run!

[@Propfaqs]

I was in the bank one day for regular bank business and I smelled a burning smell, saw someone very upset, and a bunch of bank employees running here and there. They apparently had had a fire in the safe deposit boxes. A FIRE!!!! I wonder what the safe deposit box owner lost!

[@machintelligence]

More important: what did someone put into their box that would spontaneously catch on fire?

[@marktheshark7754]

Some crypto keys have lithium-ion batteries if they have Bluetooth capability. Could’ve shorted or gotten wet

[@2901nc]

Good video-examples help people understand and relate to possible consequences .

[@americasestateplanninglawy1946]

Thanks for your support of the channel C4 👍

[@mmkkggggoodd2315]

Some advice - create a living trust. There's no probate problems. The trustee just follows the trust.

[@probuilder961]

Another asset is vehicles. My Dad passed in Jan. & his new truck & nice motorcycle are in his name only, not jointly with my Mom, so we have to wait through probate to be able to sell them. Could be a year we're told. I now know to set up vehicles jointly with a beneficiary listed for quick transfer later.

[@onlineconsumer4796]

After my mom passed away, we had my dad add my sister to his safe deposit box but not give her a key. That made him feel more comfortable doing it. I was added to the checking account as an authorized signer but no checkbook. The day after he passed away, we had my sister take the key, go to the bank, and empty the box without notifying the bank of his passing. A few days later, my sister closed the now empty safe deposit box. In Florida, if the bank knows of the passing of any of the owners of a safe deposit box, it is sealed (all access denied without a court order). At the bank I worked at, the safe deposit staff would review the obits every day to see if any boxes need to be sealed. Also never store the original will in the safe deposit box. A copy is okay.

[@judyconte6566]

So I would love to hear more about people who have no family can they set up a trust can they leave their money to charity.What do seniors with no relatives or people they want to leave money to do in such circumstances. I work in healthcare and I would like to Point a senior client in the right direction he has no family And has no trust or will set up not even a living will.

[@Fanta....]

point to your pockets ;) in all seriousness though, perhaps you can help him donate his assets before he passes away. also charities can assist you in arranging to have then as a beneficiary.

[@chipblack5000]

Let me know how this turns out please.

[@jonnaborosky8836]

Seems like, from what you're saying, because of frozen accounts, a mortgage could stop being paid and family could actually lose a house while waiting for this process.

[@jdtraub]

If your bank account in the trust it doesn't get frozen at your death. Put your bills on autopay. Then everything proceeds as usual. Successor trustees have access as soon as they produce a death certificate. Meanwhile the bills keep getting paid.

[@jonnaborosky8836]

@@jdtraub Sounds good. Thanks.

[@jrchicago9216]

Having several original ink valid Wills allows multiple parties to hold the Will. A revocable trust while living is also wise, as long as the assets (home, bank accounts, vehicle, etc.) are titled in the name of the Trust - super critical. Often the Will says, anything in the Will is considered part of the Trust. When handing a person an original to safeguard, a letter of instruction on what to do and who is to be contacted legally is stated in a draft Co-written between the attorney and the party being represented. These should be the minimums. Wills alone when there are real money or property assets is not good enough because you can avoid lengthy and expensive probate and heart ache with the more important Revocable Trust. In some situations a non revocable trust is more appropriate. It’s all simple to do while you have your faculties.

[@susanoline5823]

Appreciate this channel. Very interesting. Some things I had already learned the hard way! Especially the advice on wills, etc.

[@charleneabalos7240]

In Oregon you have to own the safe deposit box to get in it even if you have the key. We took the parents to the bank and filled out the paperwork to make both my sister and I owners of the box with my parents. That is where the will, and poa documents are.

[@ronaldreisner513]

Bank of America was/is terrible at handling this. I had the same problem 2 tears ago.

[@MsBrooklyn62]

years

[@docholiday7758]

I'd hate to have to deal with stuff like this for my living.

[@chipblack5000]

Thank You For Sharing 🇺🇸

[@briom1425]

Get a safe and Keep it at home somewhere discreet , forget about the safety deposit box in the bank ,can create to much problems .

[@maryricketts7337]

I’m skeptical about keeping a safe deposit box at all. You can’t access it outside banking hours and if something happens to the banking system a person could be locked out of it.

[@barbaracalabro873]

NO way..I keep mine in a fireproof....portable safe. It helps that i am retired and in a town home. Grabbing it is first priority if a fire breaks out.

[@sinman1935]

I understood that the keys to a safe box at the bank was actually 2 keys, and in order for either you or the bank could open the box, both keys had to be used, it wouldn’t work with just one key !!!!

[@bonniedunbar6717]

They have a key and you give them a key. You get two keys when you rent the box. If you lose a key you pay bank to put in new lock.

[@Fanta....]

All the boxes have a master keyed Banker key, and a user key. The Banker Must insert and turn their key first, which will allow your user key to enter fully. with both keys turned, the box will open and the banker can remove their key and leave you to remove/view the contents. when you are ready, you can close without the bank staff needing their keys. Once the user removes their key it resets the lock and locks your user key back out until the banker key is put back in. Its quite a good system. I have a bank of boxes in my room :)

[@maryricketts7337]

The teller has one of the keys

[@OscarTorresWork]

Thank you for sharing really informative!

[@SD-yb5fx]

How can I find my aunt Bank safety deposit box? She passed away in 2011 and the attorney and co-executors say that there never was a safety deposit box but we know better because she talked about her bank safety deposit box to my brother on a few occasions. I called all of her known banks but since it was so long ago they don't keep records that far back or maybe they don't want to give it because I'm not an executor but only a beneficiary. So my question is, is there another way that I may be able to find out where her old safety deposit box was located? Her estate is in Pennsylvania. Thank you so very much!!!

[@GeorgeMinton-jb8ky]

You might check to see if any property was turned over to the state as unclaimed. If she didn't pay her box fee it could have been turned over.

[@jameshanson4048]

I am an heir finder. If you need help with documents for the Court's decision to release funds to you. Contact me: [e-mail] I'd be happy to help you!

[@MsBrooklyn62]

Contact the attorney for the estate.

[@nunya3163]

My parents and I simply share the box, we each have a key and are signatories, with access to the box.

[@darlahouston4670]

I think I’ll do that with my son.

[@Blue_Angel.555]

I used to have a safe deposit box at a branch of one of the largest bank in the world. After a year, I cancelled it. I just did not like the look on the faces of those bank clerks, made me very suspicious.

[@SuperTransmission]

Usually the attorney that wrote the will has copy of the will , as far as bank accounts if your getting older & you want your family to have your money thats in the bank set it up as a POD on your accounts ( PAYMENT ON DEATH ) put the names on the accounts that you want to have the money ,you walk into the bank with a copy of the death certificate photo ID & some banks will try to play a game with you about getting the money ,but they have to give you the money on the spot ,bank of the america is the worst they will tell you you need more paper work BS. It could be millions of dollars they have to give to you cut & dry.

[@terrysullivan1992]

"...and the lawyers in the Estate dept. are not real swift ( pause ) in their response time."

[@americasestateplanninglawy1946]

Well said TS 🥱

[@rockymntnliberty]

And even when you think you've done everything right in legal and proper, the FBI comes in and sees all the damn boxes and you have to file suit on the government to get your stuff back.

[@edennis8578]

Then you have to prove that your stuff isn't ill-gotten gains. Good luck with that.

[@bubbasinclair6514]

Thank you for what you do. Much appreciated.

[@polefitnessron9111]

My father died in 2020, and of course when I went to the bank to access his safe box…the bank told me I couldn’t because it was this long drawn out process to enter. So I hired my lawyer & currently (2022) I will be able to enter with the documents I have. Hoping they don’t give me a hard time. It’s been a tough road. For I am his ONLY child and I’ve been dealing with it ALL🥺😔

[@pablitoperez9109]

Imagine after all that it’s empty. Keep us updated

[@ninajohnson6578]

Excellent video.

[@timsannicolas7562]

Thank you Sir. Well appreciated.

[@lanathomas1692]

What about having a paid on death beneficiary on your bank accounts that avoids probate and the person can access the money quickly with a death certificate if a person has bank accounts with different people as the beneficiary it's cleaner and faster

[@dennis007]

I think, for most states, there is no POD on a safe deposit box. By law, when the lessee of a safe deposit box passes away, the authorized signatory is not allowed to access the box any more. To avoid the possible legal issues in the future, the signatory has better access the box before the time of death on the CERTIFICATE OF DEATH.

[@lanathomas1692]

@@dennis007 yes safe deposit is different however I think you might be able to have a joint account but I'm not sure, and set the key aside for the person if something happens to you.

[@jayblue5310]

@@lanathomas1692 - You can have a joint account but the beneficiary will always have access to the box at anytime example they could into the bank and say I lost the keys the will new keys the original owner of the cant get access to the box or ask for new keys.

[@Fanta....]

@@dennis007 While this is true, who gives a rats ass. If your parent or significant other has passed away, just go in and remove the contents anyway. let the deposit box expire and ignore them.

[@vickywright3059]

I have been quite angry about the situation and no investigation took place after some relatives out of state California/Texas who visited St. Louis once or twice or and not even yearly comes in steal/unauthorized and or participate to take contents of my Mother’s safe deposit box from the Bank of America In St. Louis after my Mother had started receiving a Class Action Suit Settlement of about $800,000.00 ! Every Dog Has His Day!( My anger is justified)! I’m the Daughter/Heir who has a disabled Brother(Also an Heir) I, who have been doing most of the seeing after/taking care of Mother before she passed away and disabled Brother, while dealing with other issues in My Life!!! But I Thank “GOD” For Blessing Me With The Strength To Endure!!! May “GOD” Bless Us All In A Struggle!!!

[@Fanta....]

Sounds like you really love Jeebuss. Bless your cotton sox

[@malcolmalexander5246]

Having obtained a Court Order to open the box, surely you can apply to the Court to issue an endforcement notice that the Sherriff can take to the bank and obtain the box to open. At very least, threaten the Bank with such action with resulting costs being their responsibility. Accepting that Banks and Estate departments just take their time makes me rather sick and I feel that you may not be doing all you can for the poor client , other than mounting you own costs in allowing this to drift on and on.

[@Fanta....]

Safe deposit boxes are so old fashioned. easier to just get a floor or wall safe installed and let your family know about it. for the amount you pay every year in rental, you might as well just secure it at home.

[@tk-xc2wg]

Add your kids as owners of safe deposit box to safe deposit box title. If you want to. Also to checking account , sav acct to avoid all this headache. Even if you have a key, but you are not on title on safe dep box, we cannot let you in.( bank employee)

[@larrysfarris]

@ 2:55 - Is that what that sound was? I was wondering what that noise was. 🙄

[@garythornbury9793]

ive had to do this and the box was empty

[@dennismack9335]

Note to self, no safe deposit box!

[@CallSignWhiplash]

A copy of the Will should’ve been filed with the Clerk of Court of the Parish (?)

[@jeffgolden253]

Out of curiosity, based on your experience in this case, next time you have a case where the heirs THINK there is a will but its locked in a safe deposit box, instead of going to probate court with that story and requesting an order to drill the safe deposit box, would you recommend to the heirs to tell the court that there is no will, and ask to be appointed administrator of the intestate estate? if, after the administrator has letters testamentary and judgment of possession and gets into the safe deposit box, they are surprised to find a will in it, they can always go back to probate court, tell them that a will was found unexpectedly, and change the case from intestate to having a will.

[@Irin31]

Probate courts are expensive and takes years to go through them. You have no idea when they will decide to open that box and you might be into thousands of debt to them by then and two years later with lots of your time and money wasted

[@jeffgolden253]

@@Irin31 Yes ... But remember ... As the administrator of the intestate estate, you would have already had access to everything. As administrator, you could have already distributed everything that anyone was interested in. The only reason for going back to probate court at all is if you find that the will said something lots different than what the administrator felt the deceased wanted.

[@scotia807]

I have my IRA invested through a financial advisor. I thought I could put it in a trust but, he says that's not possible because it's an IRA. So, the only thing i can do is leave it there and take dispersment until i die and then it will go to the beneficiaries. What if i go in a nursing home and they take the money before i die is there a way/ to avoid this?

[@annestrada1724]

Great info!

[@ab935]

When there was a scratch out or my signature card and the lock to the safe deposit area in my bank was broken and not immediately repaired I decided it was stupid to pay for the box. BTW, the clerk said it was secure because the elevator to that area was locked at night....I suppose any crooks would never think of taking the stairs.

[@WisterianMist]

Good Information.

[@natakapoor3439]

Your all vedios are very help full god bless you.

[@clairevanaelstyn7814]

Thank you very good advice.

[@americasestateplanninglawy1946]

You are quite welcome CVA 😀

[@DannyNomad]

All this could be avoided by a 20 dollar fire box from Walmart that you keep in your closet.

[@griffinreitz7041]

My Uncle was a big time coin collector. He told me for years how many coins just vanished for safe deposit boxes after people died. He never considered them "safe" at all. I never liked the fact you can't get to them nights or weekends. I can open my safe anytime.

[@edennis8578]

It's true. Stuff goes missing from safe deposit boxes all the time and the banks have no liability. "There are no federal laws governing the boxes; no rules require banks to compensate customers if their property is stolen or destroyed." That's from the New York Times. I can't post the link because when I do, the post is deleted.

[@Fanta....]

@@edennis8578 the article is named "Safe deposit boxes aren't safe" if you google that term you will find it.

[@edmcclendon9588]

This BS my father bank pulled on me. They claim there is no safe deposit box. Yet Corp. Tell me go to his branch . Just the run around, keeping telling if there is no charge on his statement then it doesn't exist. So I had to correct her that the Bank offered safe deposit box for individual in good standing and kept a large monthly balance.

[@michaelzeisler2257]

I don't know and I had a safety deposit box I always made sure I had an extra key and always gave it to someone usually a relative or a close friend

[@zxatl2003]

How can the bank in question ignore the judges order? What recourse could the bank have to compel them to obey them to obey his order? Are they in contempt? Thx

[@mildredwebster2822]

Very interesting!!!! How long does it take to resolve a simple trust with no property, just accounts

[@marcid5933]

Would a trust help to avoid these unfortunate events?

[@MikeNaples]

In this situation, I doubt it. Lost key, apparently the bank doesn't have a duplicate. Access to the box? The banker doesn't know a will from a trust from a can of shinola. The advantage of a trust is to keep the affairs private not keep an obstinate bank from making life easy.

[@sabine3769]

When can a executor open the sbox? Found out mu husband has abox I have no idea where a key is. Good grief

[@deborahhopper1070]

I put my important papers in Citibank, since coronavirus they have closed, I have called several times no answers, called corp office got the run around, what can I do?

[@MsBrooklyn62]

Contact headquarters in TX.

[@billt8504]

We re in this boat now. My mom has dementia, can't speak or write. She never made any of her adult children co-owners of the safe deposit box. I thought being Power of Attorney I was covered, could get into the box. Nooope. POA has nothing to do with a safe deposit box. You need a court order to get into the box while my mom is alive. After she passes, in 2 to 8 years, we just need the death certificate and proof I'm an Executor, according to the bank. We're lucky in that it is a small town bank and they know me and my mother and my brother, so when the time comes we should have no problems. I hope. (safe deposit and mom are in New York state.)

[@kimberlyeichelsderfer9126]

I thought of a judge signed off and you believe that the will is in there then they have to open it if the judge signed off no questions asked??? Do they have their policy available to read

[@heidirobinson6406]

Really sad situation. 🗽🙏

[@hopechavis165]

What if we have a safety deposit key but I don’t know where the box is.