If you have a safe deposit box at the bank, you may feel you don’t need a home safe. But what if you need access to jewelry, gold or a document such as your birth certificate when the bank is closed?
Just as some judgment creditors are not aware that the contents of a debtor’s Safe deposit box for sale can be levied, many judgment debtors think that the contents of their SDB at their bank is protected from creditor levies. Judgment debtors may think they can hide some assets in a SDB, and no one will ever know. They might keep a wide variety of assets such as cash, collectibles, documents about notes receivable, jewelry, etc. That misunderstanding by judgment debtors, can be good news for judgment creditors. Those valuables can be subject to a creditor’s bank levy execution.
Start a Memory Box for your children’s prized artwork, sentimental childhood possessions, schoolwork, etc. They can decide, with you, what goes in it. You can have a master Memory Box, and one for the current school year. At the end of the school year, your child, with your help, can revisit the year, purging any items that are not vital enough to go in the master Memory Box.
Loaded guns. Hopefully this one is a no-brainer. If you’re moving with a loaded gun and want to take it with you, check all applicable laws especially if your move is taking you across state lines.
Generally the best solution is to rent a safety deposit box in a reliable major, first class bank – not just a box company. Many banks will require that you also have an account with them and that withdrawals to pay the box rent be authorized in advance.
Copies of your insurance policies and wills: Take note of the word “copies.” There is a very good reason why the real ones should be kept elsewhere or, in fact, handled by someone else such as your lawyer. When you die, there’s no one else who will be able to open your safe deposit boxes or have access to them unless you have left some instructions on what to do to a loved one or to your representative. The original copies will then be needed for processing. The copies, meanwhile, will just be for your own protection just in case you need to present proofs in some situations, and the original ones are not with you.
If you are going to buy gold – do it the safe way. Study the investment options available, learn as much as you can by reading and researching, even before consulting with an investment advisor. Its your wealth, your future security.