lock box items

When two persons (not related) have a lock box at a bank together, and one of them dies, can a lawyer (representing a 3rd party) go into the lock box, without informing the living person, and remove items from the lock box? (Excuse given: Looking for a will.)

Anyone experienced something similar to this before?

I have several tractors. (to make this tractor related)

In addition to what the "law" does or doesn't allow, you have to get past the officials at the bank.

In my experience having been the administrator of about a half-dozen estates, they tend to err on the side of caution, and like to see some estate papers or orders info from the probate court, and will probably run the whole scenario past THEIR attorney for his opinion before making a decision.

GOOD LUCK!

The only way they can get into my lock box is with a court order or have their signature on the card the bank has on file. Both my wife and 1 son have their names on the card. Make sure the administrator of your estate is on the card as well. Then the estate wont have to pay an attorney for his time to get a judge to let them in to it, been there with my younger brother.

As far as I know in Missouri if some one dies the only person than can get to the lock box is a person who on the lock box file. That can be 1 or more persons. I believe no one can get into the lock box as long as there is a name of a living person on it. Basically I think if theres only one on the account then it belongs to him course depending if its paper work he may not be able to use it. If the box is not payed for by the living person then after a time period the state is notified, court order submitted and all contents turned over to them and they will notify the heirs. If you go to your state gov there will be a site for this. There is millions of unclammed property on there. Some are checks that weren't cashed but a lot is from lock boxes. But I would recommend you asking your banker. State to state is probably different. If you don't want that 3rd person to know then don't tell them. If your the 3rd person you probably shouldn't get in there without anyone else knowing. Laws are pretty precise on this. Regardless of what you have you should have a will and a named executor and that person should have a copy of it. Just make sure you get a good lawyer to write it up. Just my 3 cents worth. Norm

I am no expert on lock box or the law!!!! BUT I DON'T LIKE THEM PERIOD!!! The reasons are what the original poster said, Government or court order, bought off bank teller and so on!!! I prefer to store such items in a "safe place" we shall say!!! My guess is attorney used legal papers or court order to go into it.

When my uncle died, my girl cousin and her deadbeat husband hired a lawyer and got a court order from a judge to open his safety deposit box on the basis that they were looking for the will - on the day before his funeral. They even got a locksmith to drill the lock because they didn't have a key. My cousin (her brother) was the only one that was supposed to have access to the box.

They quickly found out that there weren't going to directly get any money because whatever was left to them was in trust funds to be paid out over a period of years. I thought that they would go to court over that, but they settled for the trust funds- which they spent as fast as the checks came to them.

Had a friend here in Houston who had a lock box at a big city bank where he was a regular customer. Went in one day to find that they had declared the lock box abandoned, and shipped everything to the state. Although he had not moved, the post office apparently returned his box rent notice as undeliverable, and the bank clerk just followed her job instructions rather than try to do some checking to see what the problem was. Took him a while to get everything back.

Ask a bank officer. In NY the bank scans the obits. and if so listed the safety deposit box is sealed until the will is read.
Don't keep a will in the safety deposit box.

There are obviously many issues with lock boxes. I have found a good home safe (in my case a gun safe) is much more handy. For papers, cash, jewelry, etc I have a small fire safe inside it. But you have to trust anyone else you give the combination to.