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"Safe Deposit Boxes Aren’t Safe" (NY Times article)
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<p>[QUOTE="Clawcoins, post: 3622895, member: 77814"]Misidentification can be a problem. I've heard of it before.</p><p><br /></p><p>With my past SDBs I've plopped business cards in there plus a paper sheet on top of who owns it ... you know, just in case from a past experience.</p><p><br /></p><p>I had a previous instance where a relative with the same last name, and same first initial went into bankruptcy, who also had a SDB at the same bank. SDBs can be seized in certain situations including bankruptcy (non-paid taxes, etc). Well, luckily I lost nothing but improved my self identification of the SDB as stated above.</p><p><br /></p><p>So beware of those Court Orders including Divorces ...</p><p><a href="https://blogs.findlaw.com/law_and_life/2017/04/can-the-irs-open-a-safe-deposit-box.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://blogs.findlaw.com/law_and_life/2017/04/can-the-irs-open-a-safe-deposit-box.html" rel="nofollow">https://blogs.findlaw.com/law_and_life/2017/04/can-the-irs-open-a-safe-deposit-box.html</a></p><p><br /></p><p>I think in regards to the Law, SDBs are considered an asset and are treated as such.[/QUOTE]</p><p><br /></p>
[QUOTE="Clawcoins, post: 3622895, member: 77814"]Misidentification can be a problem. I've heard of it before. With my past SDBs I've plopped business cards in there plus a paper sheet on top of who owns it ... you know, just in case from a past experience. I had a previous instance where a relative with the same last name, and same first initial went into bankruptcy, who also had a SDB at the same bank. SDBs can be seized in certain situations including bankruptcy (non-paid taxes, etc). Well, luckily I lost nothing but improved my self identification of the SDB as stated above. So beware of those Court Orders including Divorces ... [URL]https://blogs.findlaw.com/law_and_life/2017/04/can-the-irs-open-a-safe-deposit-box.html[/URL] I think in regards to the Law, SDBs are considered an asset and are treated as such.[/QUOTE]
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