Whether your will should be in a safe deposit box at a bank or elsewhere, such as with your attorney, depends on what your state law says about who has access to your safe deposit box when you die. The recent trend in many states is to make it relatively easy for family members or the executor to remove the will and certain other documents (such as life insurance policies and burial instructions) from a deceased person's safe deposit box. In those states, it might be a good idea to leave your will in the safe deposit box. However, in some states, it may require a court order to remove the will, which can take time and money.
Alabama Petition for Appointment of Temporary Administrator in Order to Gain Access To Safe Deposit Box
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FAQ
Safe deposit boxes often have more than one name listed as owner. When such assets are owned by two or more persons as ?Joint Tenants with a Right of Survivorship,? ?Joint Tenants,? ?JTWROS,? or simply have the word ?or? between their names, some very specific legal rules apply.
An individual can rent a box in their name only, or they can add other people to the lease. Co-lessors on a safe deposit box will have equal access and rights to the contents of the box. For example, people who have an addiction, financial, marriage, and/or judgment issues may not be ideal candidates.
Texas law allows the decedent's spouse, parent, descendant who is over 18 years of age, or the person who is named as executor in the decedent's will (if the person is able to produce a copy of the will), access to the decedent's safe deposit box.
Under Alabama law, the executor must petition the probate court to gain access to the safe deposit box. Only by receiving a special court order will the executor be able to access the safe deposit box to search for the will, trust documents, burial arrangements, or to create an inventory of the box's contents.
You will need to visit your bank with the person you want to give access to. The person will need to provide their ID and signature. As a result, they will have equal access to the contents of your box. The person will have unrestricted access to your safety deposit box and be considered a joint renter.
Technically, Florida Statutes allow a Personal Representative who has been issued Letters of Administration to enter the safe-deposit box without a court order; however, many Judges in Florida will restrict a Personal Representative from entering a safe-deposit box without a separate court order.
Authorized signature: When the safe deposit account is opened, all persons authorized to access the box sign a signature card. The bank allows only those individuals to open the box. From then on, the bank records the signature of any individual allowed to open the box.
A safe deposit box may be owned as an individual or jointly. You may want to own one with your spouse, children, or a close family member. During your lifetime, your safe deposit box can be accessed by you, a joint owner, or a Deputy designee.