![]() ![]() The same goes for less dramatic items: if you have a collection of rare whiskey, keep it at home.īy: Edward J. Firearms, explosive, illegal drugs, and hazardous materials are among the things prohibited from being kept in a safe deposit box. When you opened your safe deposit box, you signed a contract listing what you may and may not keep in a safe deposit box. How likely are you to be able to get to your house keys even if the bank is open, if your key to the safe deposit box is in your home? Enough said. Protect valuables with a supplemental policy or a rider to your homeowner’s insurance policy and keep them at home. There are no federal laws governing safe deposit boxes and no law says the bank has to reimburse you for stolen items. The FDIC does not insure safe deposit boxes or their contents. It won’t do you any good to say you don’t want to be kept alive on a heart and lung machine if your agents can’t get to these documents. The same goes for your Advance Directives for Health Care or Living Will. ![]() Keep it with your original will and provide copies to anyone who might need it. Similar to the will, the POA needs to be accessible any time, day, or night. You might also wish to send the letter of intent to anyone who is designated to receive a specific item. Keep the letter of intent with your original will. ![]() However, if it’s locked up in a bank vault, your final wishes may not see the light of day for months. A letter of intent, or letter of instruction, is a letter to your family, telling them what your wishes are for your funeral or memorial service and giving details on specific bequests. After death, the bank seals the safe deposit box until an executor can prove they have the legal right to access it. Keeping copies of your will in a safe deposit box is fine, but not the original. However, if an emergency arises, or you get a great last minute travel bargain, you won’t have quick access to your passport.Īn original will. Unless you travel often enough to keep a passport next to your wallet, it may be tempting to put it in the bank vault. The FDIC does not protect cash, unless it’s in a bank account. Most banks are very clear: cash should not be kept in a safe deposit box. Here’s a look at what not to put in your safe deposit box:Ĭash money. Reduced operations and branch closures happened because of the pandemic and today’s hiring problems might mean a longer wait even during regular business hours at a bank branch. The same goes for natural disasters, which seem to be happening more frequently in certain parts of the country. If you need something in an emergency on a weekend, holiday or at night, you’re stuck. However, it’s not the right place for everything.Įven if the bank’s ATMs are open 24/7, access to the bank vault is limited to hours when the bank is open. Some documents also do belong in a bank vault. However, if you were thinking about getting rid of your safe deposit box, says the article “9 Things You’ll Regret Keeping in a Safe Deposit Box,” from Kiplinger, think again.īy all means keep your prized possessions like baseball cards in a safe deposit box. Known safebox spawn points are listed below.We’re reminded daily about living in a digital world where anything of importance is stored in the cloud. If a particular spot is empty, the box there may have been recently looted, and will respawn over time. ![]() Safeboxes spawn in fixed locations throughout the world. ![]()
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