Having a safe deposit box in a bank is something that is recommended by most personal finance professionals. The box should be located in a bank that is convenient to your home.
Your box is the location where you should original documents. A good rule of thumb is to put documents in the box if you can't easily replace them or if you don't know what might happen if you don't have it.
Also in your box should be official (original copy with all required signatures) or certified copies of documents (such as birth certificates, must also be certified or notarized to be considered valid) .
Items to place in your box should include;
- Birth certificates
- Citizenship papers
- Marriage certificates
- Adoption papers
- Divorce decrees
- *Wills
- *Advance directives
- *Powers of attorney
- Death certificates
- Deeds
- Titles to cars
- Household inventory
- Veteran's papers
- Bonds and stock certificates
- Important contracts
- Passports
*Since the safe deposit box will be sealed at your death, keep a copy of your will someplace accessible. The same goes for the advance directive and the power of attorney since you may not be able to give others access to the safe deposit box.
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