Post: #1

I just got a safe deposit box at my bank today, I don't know why I didn't get on it sooner.

Cost :$35/year

Storage space: Safe deposit boxes used to be kind of limited if you had to throw a ton of paperwork in them but nowadays my entire life fits very easily on a hard drive.

If you are cautious about marriages, LTR's etc one of these is a very low risk investment to keep shit away from prying eyes or curious gold diggers.

I think this would also be good if one was in college and has sketchy roommates

My only paranoia is that the bank can close the vault for pretty much any reason it feels like in the contract (fire, mobs, 'unusual crowds') and during some sort of social collapse its almost certain they would lock that place down very early on.

Post: #2

Also IRS can seize contents at any time on thin pretext...

Post: #3

Just remember to keep track of the contents.

Finding good insurance for safe deposit boxes can be a problem, too. To me, a bank vault is about as low-risk as you're going to get in the world.

But some insurance companies want to charge a lot for deposit box insurance.

Post: #4

Surely divorce judges can confiscate a safe deposit box? I'm curious...

Post: #5

(12-10-2015 04:45 PM)Disco_Volante Wrote:  Surely divorce judges can confiscate a safe deposit box? I'm curious...

Correct, a safe deposit box is not a box that enables you to hide your assets. But that applies across the board with your assets in a divorce, not just safe deposit boxes. I don't think OP was suggesting that as a use.

Post: #6

If you live in a marital property state (as opposed to a community property state), putting a bunch of assets in the safe deposit box and not opening the box during the marriage should be proof that you didn't co-mingle those premarital assets. So long as you can resist the urge to ever go into that box and think of it only as an insurance policy, you would be good.

Post: #7

(12-10-2015 04:49 PM)GlobalMan Wrote:  

(12-10-2015 04:45 PM)Disco_Volante Wrote:  Surely divorce judges can confiscate a safe deposit box? I'm curious...

Correct, a safe deposit box is not a box that enables you to hide your assets. But that applies across the board with your assets in a divorce, not just safe deposit boxes. I don't think OP was suggesting that as a use.

Correct, and the same with Deepdiver's comment. I'm not suggesting that its a good avenue to try to hide things from the law. The IRS can sweep up any of your assets and safe deposit boxes count in that, same thing with a divorce that ends up in asset discovery. If you want to really hide something for a divorce it had better be at a friend's house.

A safe deposit box is great if your house isn't necessarily safe. If it burns down, or is otherwise destroyed you can grab your stuff from the bank. A safe deposit box (in your name only!) would also be great to have if you live with a crazy bitch that locks you out of the house. You just head on over to the bank to get your spare keys, garage door opener, a few dollars.

If I had gotten my act together when I was say, 19, instead of trusting that my mom would not lose my important documents when I was at college I just would have put them in a deposit box.

Again, for $35/year its a pretty darn low commitment for a secure storage option.

Last, QC is correct about insurance on boxes, they are weird about it. I can keep them insured on my home policy, but not insured in the bank?

Post: #8

You want to run your safe deposit box like the kernel runs KFC.

Trade secret - no one knows.