tag:blogger.com,1999:blog-436024129575354145.post2260520868732125142..comments2024-03-28T12:41:21.857-07:00Comments on Estate Law Canada: How to list the contents of the deceased's safety deposit boxLynne Butler, BA LLBhttp://www.blogger.com/profile/09790353197833765108noreply@blogger.comBlogger35125tag:blogger.com,1999:blog-436024129575354145.post-17750887128056087752020-07-03T11:15:39.079-07:002020-07-03T11:15:39.079-07:00In my post, I described how an executor of an esta...In my post, I described how an executor of an estate should go into the safe deposit box of a deceased person. The executor creates the list for his or her own use and keeps the list. No, the bank doesn't see it. <br /><br />With respect to your question about consequences, no, there are no consequences to the bank for not locating the list. It has nothing to do with them. However there mightLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-63406894353007505512020-06-25T15:01:04.343-07:002020-06-25T15:01:04.343-07:00Who holds onto the list that is made? Is it kept i...Who holds onto the list that is made? Is it kept in a file at the bank? I thought banks were not allowed to know what was in a safety deposit box. Second - if a list was made when the first box holder died and now it cannot be found by the bank after the second box holder died - are there consequences? Mamma Biscuithttps://www.blogger.com/profile/04803640252579563476noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-20408464069336188672020-03-15T20:15:56.039-07:002020-03-15T20:15:56.039-07:00If you were already the owner of the items in the ...If you were already the owner of the items in the box, you'd still be the owner of them. If you weren't the owner before the other person died, you're not the owner now. Access to the box doesn't change that. If you and the deceased owned something jointly and it was kept in the box - say a valuable piece of jewelry - then yes, you would be the owner of it after the deceased died.Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-41635105739500633462020-03-15T10:01:31.288-07:002020-03-15T10:01:31.288-07:00Thank you Lynne. So, in regards to a joint safety...Thank you Lynne. So, in regards to a joint safety deposit box, is there any scenario where the joint owner would own the contents of the box following the death of the other co-owner, similar to a joint bank account with rights of survivorship?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-56698915033603447082020-03-13T12:16:39.442-07:002020-03-13T12:16:39.442-07:00The person with joint access to the box should sti...The person with joint access to the box should still be able to access it, regardless of whether there is a will. Keep in mind though that access to the box is not the same as owning what is in the box. Whatever is in the box belongs to the estate, not to the person with joint access to the box.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-22961078567928349342020-03-10T08:14:25.691-07:002020-03-10T08:14:25.691-07:00Lynne,
As a catch-up to my earlier question ... if...Lynne,<br />As a catch-up to my earlier question ... if a safety deposit box (SDB) is held in two persons' names and one of them dies WITH a will, would the surviving person still be able to access the box and its contents, or would he/she be required to list the contents of the box? I guess I am wondering if there is any reason a joint SDB works differently from a joint bank account with Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-20792079388295991412020-02-03T10:38:47.214-08:002020-02-03T10:38:47.214-08:00Perhaps that item on the inventory (part of the pr...Perhaps that item on the inventory (part of the probate) can be listed as "to be determined". That way, you can go ahead and get the probate, get access to the box, and get an appraisal. It would mean that once you know the value, you are obligated to file a supplementary affidavit with the court showing the change to the inventory with updated values. <br /><br />This isn't a Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-79965977374320306482020-01-31T22:49:23.163-08:002020-01-31T22:49:23.163-08:00the lawyer says we need the contents of the safety...the lawyer says we need the contents of the safety deposit box evaluated before probate. however the bank won’t release the contents for appraisal. There isn’t a jeweler around who will go to the bank and appraise it. The list of the contents we made, at the back, apparently isn’t good enough. So now what? Anonymoushttps://www.blogger.com/profile/15141445253702621812noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-8967241380365816932019-12-21T15:15:20.057-08:002019-12-21T15:15:20.057-08:00Yes.
LynneYes.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-8486600963729079202019-12-18T08:21:45.370-08:002019-12-18T08:21:45.370-08:00If the safe deposit box is joint, one is deceased ...If the safe deposit box is joint, one is deceased and there is no will can the person(s)that is co-joined enter the box <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-34529731275907003952018-08-13T21:41:31.380-07:002018-08-13T21:41:31.380-07:00we have a joint safety deposit box, one is decease...we have a joint safety deposit box, one is deceased, we have no will or executor, can I still enter the box as the remaining renter<br />granny Janhttps://www.blogger.com/profile/16450961381680410579noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-4379016928576928012018-02-12T21:20:15.734-08:002018-02-12T21:20:15.734-08:00There is no reason for the bank to require a grant...There is no reason for the bank to require a grant of probate for this unless the jewelry is extremely valuable. Banks have the discretion to allow a simpler procedure that doesn't involve going through probate. It would involve them having the beneficiaries sign an indemnity that protects the bank.<br /><br />The executor's legal authority arises from the will, not the probate. <br /><brLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-33216051011585012472018-02-12T21:17:37.292-08:002018-02-12T21:17:37.292-08:00Seven years later? No wonder the box is closed if ...Seven years later? No wonder the box is closed if nobody accessed it for seven years. Surely with keys, a box number, and a confirmation slip you could have found that box by now. You could have investigated every branch in the country in person in seven years. <br /><br />I assume that you're the executor of the estate of someone who died, otherwise you shouldn't have the keys to their Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-37978994963682945182018-02-12T10:00:27.341-08:002018-02-12T10:00:27.341-08:00We know there was a box but we havent been able to...We know there was a box but we havent been able to find the branch it was located in. all we have are the 2 keys and the confirmation slip from the bank including the box #. Now, 7 years later the bank is telling us that the box was closed and are giving us the run around as to where the contents have gone to. What are the laws in Ontario regarding getting access to the content? Where could the Rosenoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-37012685035270398362018-01-17T14:02:37.696-08:002018-01-17T14:02:37.696-08:00Hi Rose,
You need to bring a death certificate to ...Hi Rose,<br />You need to bring a death certificate to show the person who owns the box has died. Then you need to show I.D. that has the same name as that of the executor listed in the will.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-69936666551921499282018-01-17T06:30:47.000-08:002018-01-17T06:30:47.000-08:00Great information! However, if the deceased left t...Great information! However, if the deceased left the will in the box, and we know that we are executors, what do we ask the bank in order to allow us into the box if we can't prove we are the executors or beneficiaries until we get a copy of the will? Rosenoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-69638029475107193692017-06-14T22:04:15.722-07:002017-06-14T22:04:15.722-07:00Due to estate planning, the only assets in my aunt...Due to estate planning, the only assets in my aunt's estate are a couple of items of jewelry in her safety deposit box. The bank is refusing to hand them over to the executor (aunt's lawyer) until they see a Grant of Probate. Do they have the legal authority to do this?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-28271162921038493292017-03-31T19:31:12.249-07:002017-03-31T19:31:12.249-07:00I am the sole executor to my Grandfather's wil...I am the sole executor to my Grandfather's will. I went to his bank to retrieve the contents of his safety deposit box and the bank would not let me even touch a single item in the box. The customer service rep and branch manager went through my Grandfather's personal belongings, opened two sealed envelopes one envelope containing my Grandmothers wedding ring and his wedding ring (he Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-32644577050399813002017-01-07T21:45:32.142-08:002017-01-07T21:45:32.142-08:00Yes, the contents of the safe deposit box are part...Yes, the contents of the safe deposit box are part of the estate. If there are items of value, such as the jewelry you mentioned, those items are valued and included in the estate inventory. <br /><br />You ask about including estimated dollar values with the listing. Isn't that the same as including them in the inventory? At the time you go to the bank and list the contents of the box, you Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-59809040934565861582017-01-07T09:07:05.511-08:002017-01-07T09:07:05.511-08:00Hi. Can't seem to find the answer to this: Do...Hi. Can't seem to find the answer to this: Does the value of the safety deposit box contents get incorporated into the estate value (I am speaking of jewelly only). Does a value need to be assigned to the contents upon listing? Can the exectutor withdraw any, or all, the contents of the box before probate? Essentially, is it advisable to move the contents to a beneficiary before death?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-32063218405621040152017-01-07T09:02:50.896-08:002017-01-07T09:02:50.896-08:00Hi. Can't seem to find the answer to this ques...Hi. Can't seem to find the answer to this question. Do the contents of the contents in a safety deposit box get included in the value of the estate. Do estimated dollar values need to be included with the listing of items? Can the exectutor withdraw any, or all, the contents and distribute to family before the probate is complete (I am referred to jewellry, etc.) Tanyanoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-49409682595250961302016-09-08T05:38:07.640-07:002016-09-08T05:38:07.640-07:00Perhaps I'm mis-reading your post, but as far ...Perhaps I'm mis-reading your post, but as far as you've said here, you are entitled to receive RRSP proceeds only. If the will left the estate to his family, and you are not in that family, then you are not a residuary beneficiary.To be a residuary beneficiary, you have to be named in the will as receiving a share of the estate.<br /><br />If you're only receiving RRSPs then you don&#Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-31319707824344492932016-09-07T15:14:33.146-07:002016-09-07T15:14:33.146-07:00I have just discovered after 5 yrs I am the benefi...I have just discovered after 5 yrs I am the beneficiary of an RRSP my deceased ex-common law partner of 23 yrs left to me. Initially, I was told I was the beneficiary of 2 rrsps and they were transferred to me. I was told my ex had left a hand written will leaving his estate to his family. He also had a safety deposit box which was opened by them. He had always told me he had a will and I Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-81358430046304654752016-08-12T20:12:25.184-07:002016-08-12T20:12:25.184-07:00I have shared a SDBox with my son and we both have...I have shared a SDBox with my son and we both have a key. Does either one have ownership if the other one dies or must this be specified in our wills? Is access denied until our wills are clarified? Ernie Baldwin Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-60645299388351329292016-08-11T12:14:05.351-07:002016-08-11T12:14:05.351-07:00No, the lawyer doesn't have to be there unless...No, the lawyer doesn't have to be there unless he/she is also an executor, or he/she was asked to be there as a witness.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.com