Shortly after the deceased's death, the executor should call the bank and make an appointment to see the box. Note that spouses and next-of-kin are not entitled to do this if they are not joint owners of the box and are not named executors. In the majority of cases, the family members have a pretty good idea who the executor is.
If the original will hasn't yet been found, it's a good idea to check the box very soon so that if the will is in the box, the right executor can be identified.
This is a bit of a quandary at times. Nobody can go into the deceased's safety deposit box except for the executor, but you don't know who the executor is until you open the box and read the will. If this is the case, make an appointment at the bank and take a copy of the death certificate with you. You may find that the bank staff will keep the contents of the box confidential from you while they look into the box to see whether you are in fact the executor.
Once you have established that you are the executor and there is a safety deposit box, your first duty is to list the contents of the box. This is done at the bank in the presence of a bank staff member who acts as a witness. Listing the contents is exactly what it sounds like - making a detailed list of everything in the box.
This must be a detailed list. There is no point to making a listing that just includes "papers and personal items".
Describe the papers. Some common examples:
- title deed to the deceased's home or cottage (include address or legal description)
- Canada Savings Bonds (include bond serial numbers, face value)
- insurance policies (include name of insured, name of company, policy number, face value)
- stock certificates (include name of stock, number of shares)
Many people also keep small valuables such as jewelry, precious metals and small family heirlooms in their safety deposit boxes. Describe the items as fully as you can. Some of these items might have been given away specifically in the deceased's will (such as when a mother leaves a precious ring to her daughter). If that's the case, you may leave the items there until you have progressed with the estate to the point where you are ready to distribute the personal items.
Consider the ownership of the box. Is there another owner of the box? If so, you will have to work with that owner to determine which of them owns which items. This is not too hard to figure out with paperwork, but it's more challenging with items like jewelry.
In your first visit, you will probably not take out anything except for the original will (and as mentioned, only the executor named in the will can legally do this). That is enough to get started on the executor's duties. Make sure that before you leave the bank, you have changed the ownership of the box to the deceased's estate so that you can access it again in the future
One of the executor's duties is to keep valuables safe, so many executors leave the items and papers in the safety deposit box until they are needed. Consider who else has access to the box when determining whether this is the safest place to keep the items. If anything goes missing, you are personally responsible for it.
If your list is detailed enough, you will be able to get started on the probate documents without having to go back and look at the paperwork again. Eventually, of course, all items will be removed as you wind up the estate, but for most estates that is a few months down the road.
Good, useful information. I can imagine that executors often are intimidated by the process so properly dealing with things like a safety deposit box could be a challenge. The only thing I would add is that there may be other sources of information worth checking. Increasingly there are online copies of important documents stored online and other "digital assets" that are worth searching for.
ReplyDeleteMike
Thanks for sharing information about Safety deposti boxes.. keep writing
ReplyDeleteAnne Cole
safety deposit boxes
If a court order has been issued in an estate case for a financial institution to provide details on all accounts in the name of a deceased person, would a safety deposit box be considered part of that disclosure? Also, what procedure would have to be followed by the executor in order for that person to obtain the contents of the box?
ReplyDeleteIf a court order has been issued, obviously there is a lot of background information, and of course I'm not privy to it. However, as a general observation, I would think that the bank would disclose the safe deposit box as part of its information. Though strictly speaking it's not an account, I assume that the point of the court order was for the bank to disclose ASSETS more than ACCOUNTS and the box is an asset.
DeleteThe normal procedure for an executor to obtain the contents of the box is for the executor to go to the bank with the grant of probate and simply ask for access. The grant of probate is also a court order, and it entitles the executor to step into the shoes of the deceased. Whether it's going to be that simple in a case where there is litigation going on against the bank is another matter.
Lynne
My husbands will was not probated. The bank insisted on a listing of the contents of the box long after his death (two years). I have not had access to it and the bank did nothing with the listing. I was granted "special privlege" once to view contents, just this year. Upon looking at it I thought it looked a little "light" but was not sure, I returned with the list they did. Was refused access because it was not in my name, was told to pay the o/s balance, of one year rental. What about previous years. Left without seeing box or changing name. I informed my banker in town about this was told things were to be logged by the customer care centre and I should expect a call. No call. Nothing. What should I do, change the name, go on like nothing has happened. I have bben treated less than a second hand citizen. This has been ongoing and painful reminder each time I have had to deal with this. Any advice?
ReplyDeleteWho is the executor named in your husband's will? It's not up to the bank to do anything with the box. They don't have any authority to do anything with it. Even if the will was not probated, the executor still has the legal authority - not to mention the responsibility - to deal with the box. It should have been opened by the executor and the contents listed. If you are the named executor, take a copy of the will (NOT the original) to the bank and in your capacity as executor, empty the box and put the contents into one of your own.
DeleteLynne
If the executor has taken what is in the safety deposit box and I am beneficiary, how do you find out the contents of it?
ReplyDeleteThe only way is to ask the executor. If you are a residuary beneficiary, you are entitled to know about all assets and debts of the estate, including anything that is in the safe deposit box.
ReplyDeleteLynne
Hi Lynne-
ReplyDeleteIf a deceased individual had a safety deposit box in joint name with another individual, are the contents immediately owned by the surviving person on title of the safety deposit box?
I am the executor of an estate, and there is a box in joint name with a distant cousin. The bank states he has to be the one to access to safety deposit box, but I have the key. Any insight?
Thanks so much.
Does the lawyer have to be in attendance to drill a safe deposit box, or just the executor?
ReplyDeleteNo, 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.
DeleteLynne
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
ReplyDeleteI 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 think it was possibly in this box. As a residuary beneficiary I see that I have the right to know the contents of this box . Am I too late to ask the executor, his sister and if not too late and she refuses is my next step sending a lawyer's letter?
ReplyDeletePerhaps 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.
DeleteIf you're only receiving RRSPs then you don't have a right to see what's in the box. If you are named in the will, you do have a right to see what's in the box, and no it is not too late to ask the executor.
Lynne
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?
DeleteHi. 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.)
ReplyDeleteYes, 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.
DeleteYou 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 probably won't know what things like jewelry are worth, so finding out the value for the inventory is the same as finding out the value for the box listing. I think I'm missing something in the question.
After the death of the testator, yes the executor can withdraw the items. I notice you posted your question twice and in the other version of it you asked about withdrawing items before death. No executor has any authority whatsoever before the death of the testator so that's a great big NO. But after the person dies, the executor can distribute things like jewelry (and other household and personal items) before getting probate.
That is, the executor CAN do so. Whether or not he SHOULD do so is another matter.
If an executor distributes items from the estate before knowing that all debts, bill, liabilities, taxes, etc are paid, and if there is not enough money in the estate to pay them, the executor will have to pay them out of his or her own money. So giving away anything too hastily can be a bad idea. As I said, the executor is allowed to give away those items before probate but should make sure he or she has a pretty good idea of the assets and debts of the estate before doing so.
Lynne
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 remarried after my Grandmother passed). They told me I could not have anything in the box until I produced a probated will. I felt violated on every level. I complained to the bank and contacted my Grandfather's lawyer. The bank reluctantly apologized after writing to the head office of my feelings of violation. The contents of someone's safety deposit box is private and not for bank officials to rifle through. Is it within their rights to do this? They also said they would be the ones to make the inventory list, can they do that?
ReplyDeleteThe box is solely in my Grandfather's name, his new wife's name is not on it!
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?
ReplyDeleteThere 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.
DeleteThe executor's legal authority arises from the will, not the probate.
Lynne
I got the same question cause my mom passed away suddenly but i was trying to get access to my moms safety deposit box. I am her daughter and the will is in there
DeleteShorty, you are the daughter, but are you the executor named in the will? The bank isn't going to just give the will to any family member who asks.
DeleteLynne
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?
ReplyDeleteHi Rose,
DeleteYou 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.
Lynne
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 content have gone now?
ReplyDeleteSeven 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.
DeleteI assume that you're the executor of the estate of someone who died, otherwise you shouldn't have the keys to their SDB. That being the case, you're going to have to take responsibility for the box contents going missing since you obviously gave up too easily.
Lynne
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
ReplyDeleteIf 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
ReplyDeleteYes.
DeleteLynne
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?
ReplyDeletePerhaps 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.
DeleteThis isn't a difficult fix. Your lawyer should have been able to figure this out.
Lynne
Lynne,
ReplyDeleteAs 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 rights of survivorship? Thank you.
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.
DeleteLynne
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?
DeleteIf 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.
DeleteIf the box contains things like deeds to property, bonds, gold, etc then those things don't belong to the person with access to the box unless that person was already an owner before the deceased died.
Lynne
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?
ReplyDeleteIn 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.
DeleteWith 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 might be consequences for an executor who made the list but then never dealt with the contents of the box.
Lynne
Hi Lynne
ReplyDeleteMy mother just died and the will wasn't in the safe at home , but she had a safety deposit box at the bank which might contain the will.So we don't know who the executer is.Can the bank give one of us acces to get the box opened and if so what document would we need to get it opened?We figured it might be there cause we can't find it anywhere.
My parents had a safety deposit box. The bank was being torn down, so they needed to move the box to the new bank. My Mom was unable to go to the bank to sign the new card, so my brother offered to sign for it with my Dad. My Dad passed and then my Mom. I believe my brother believes that the safety deposit box is now his. I have not had an itemized list from him and looked briefly at tge box the day of my Moms funeral when we took out some jewelry for Mom to wear at her funeral. Is this really his box??
ReplyDeleteMy brother passed away recently, and no will has been found so we will apply to the court for me to be named executor. There is a safety deposit box and we have the key, but only my brother had access. We need to list the contents (we dont think there is a will) for the court, but the bank is refusing. They will only allow the executor. Is there anything we can do?
ReplyDeleteNot really, no. The bank is within its rights to refuse to let anyone have access to your brother's assets. Until you have been appointed by the court, you have no right to access the SDB. I realize this is a bit of a catch-22, since the items in the box may well be assets that should be listed on the inventory that you file at time of application to the court. If you find valuables in the box that change the inventory, you will have to file a supplementary affidavit to bring the court record up to date.
DeleteLynne
Lynne, to apply for executorship of an estate without a will, i need to submit assets at the time of death. There is a safety deposit box and the bank granted us access to look for a will. No will found, but quite a few pieces of jewelry. The bank would not allow me to take photos or write down a detailed description of the items, but they took a full inventory in our presence and described each item in less than 5 words. I dont know whether an appraiser will help with this, but how do i include this in the assets if i cant get it appraised. thx.
ReplyDeleteAs you have discovered, trying to prepare an inventory when there is no will to grant you access to assets is a pain in the butt. This is just ONE of the reasons I think people who don't make wills are selfish.
DeleteOkay, enough rant. On to your question! List what you can in your inventory. For the value, you can either put an estimate, if you think you can provide a somewhat decent one, or list it as "To Be Determined". If you do either of these, be prepared to file another inventory in the near future once you get your Letters of Administration and can get the appraisals you need. The second affidavit will contain the proper values and will correct the court record of what is in the inventory.
Do not skip the step of filing the updated inventory!
If you like, you can include a one-line note in your inventory simply saying that appraisals cannot be obtained until Letters of Administration are granted. Judges know you're in a frustrating situation.
Lynne
Hi Lynn. My sister and father in law recently passed away a month apart from each other. They had some joint accounts at the bank. My father in law had a will at the house and I’m pretty sure my sister in law has her will in her safe box at the bank but the bank is giving me a hard time about seeing if there is a will in her box. I have both keys and we just want to check the box for a will. They say that we need to be appointed executor first but if my sister in law has a will then it will already tell who executor is.. so frustrating!! What can we do??
ReplyDeleteIt's not unusual for a will to be kept in a SD box. You'd think that banks would have a handle on this by now. Normally the bank will at the very least agree to check the box to see if there is a will. Their request that you be appointed as executor first is ridiculous and impossible, since the court won't appoint the executor without the will. Take this higher in the bank. Start with the branch manager. Make it clear that you just need to know whether there is a will. If you know which person is the executor, that is the person who should be requesting the will, as anyone who holds the original will of a deceased person is legally obligated to give it to the named executor (but not anyone else).
DeleteLynne
My father passes away 5 years ago and I was the Executrix to his Will. His second wife just passed away last week. I received a call from the funeral home asking for me to provide Proof of Death of my Father so that the Executrix to his wife could open a Joint Safety Deposit Box which I was unaware of. As it is a Joint Safety Deposit Box, does that mean that whatever is in the Box is split 50/50 and that I should be present when they open the Box at the Bank? Thank you.
ReplyDeleteWhat happens to those property belonging to other family members found in the deceased's safe deposit box? e.g. daughter's jewellery in Mom's box and executor knows that it is daughter's....need to list for estate administration tax purpose?...can this be returned to daughter without having had to wait for probate?
ReplyDeleteWhat about the Dominion Succession Act?
ReplyDeleteDoes it not provide for a representative of the estate to a) searching for a will and b) record contents of the box?
My Mother died intestate. The bank "allowed" us to look for a will but will not allow us to record the contents until we have our Administrator application athletics. We can't apply for that until we know the contents of the box...
https://laws-lois.justice.gc.ca/eng/regulations/SOR-54-743/page-1.html#h-859506