Safe Deposit Box FAQs
What should I keep in a safe deposit box?
Documents, home inventories, valuable small possessions or personal keepsakes that would be difficult or impossible to replace. To get the thought process started, we've included a link to a downloadable checklist of likely items.
What shouldn't I keep there?
For starters, nothing illegal or dangerous. In addition, you should not store any original document in your safe deposit box that you (or someone else on your behalf) might need to get to immediately in case of an emergency. This might include a Power of Attorney document, a passport, medical care directives or funeral or burial instructions. Instead, keep these documents at your attorney's office, or at home in a heavy, fireproof safe. Keep copies of these documents in your safe deposit box, or give them to a trusted friend or relative.
Who can get into my safe deposit box?
Anyone named on your rental contract as a joint renter can get access to your safe deposit box, including a spouse, child, attorney or other trusted person. You can also appoint a “deputy” or “agent” who would have access to your box in case of emergency. The advantage to the latter is that you can change your agent at any time without having to alter your rental agreement. An agent must be appointed in the presence of the box renter and an Oklahoma Central employee to ensure authorization. You should keep in mind that a person with power of attorney will not be granted access to your box unless that person is also a joint renter or appointed agent. This protects you from fraudulent entry to your safe deposit box by a person whose power of attorney has been revoked without our knowledge.
Can the government or law enforcement agencies access my box?
If authorities believe you are hiding illegal or stolen items in your safe deposit box, they can obtain a court order to seize the contents. The IRS or private parties can also ask a court freeze assets in your box in the case of a dispute over a debt.
How safe is a safe deposit box?
A vault full of safe deposit boxes is your best bet when it comes to fire, flood, heat, earthquake, tornado, explosion, burglary or other disaster. Still, for maximum protection, seal stored items in airtight, labeled containers. And keep in mind that safe deposit contents can only be insured on your own personal policy.
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