When my spouse and I opened a safe deposit box jointly, we were told by the bank rep that we can access and remove the contents if one of us passes away. Now the bank said I need a court order. I asked this bank's other branches, and they said I do not need a court order if the box is under our names jointly. Where do I go to find the right answer about their policy? How could one bank have different policy for different branch, in the same state?
First, look at the agreement you have with the bank. Next, ask the bank for their answer in writing.
State laws to access may apply after one of the owners is deceased. In this case, they're in the same state. This may be a case of differing opinions and the bank needs to provide a consistent message if it isn't addressed in your agreement. If you point out to them that they had different opinions, and request a response in writing. They should clear it up prior to giving you that written response. You can then plan accordingly.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
First, look at the agreement you have with the bank. Next, ask the bank for their answer in writing. 