Having a Legacy Drawer is extremely important, but it’s equally as important to keep copies of your documents in a secure place like a safe deposit box. A safe deposit box is simply a locked box at your bank. Only you and the people you designate have access to the box. If you have an account with a bank, many times one of the perks is access to a safe deposit box. Even if you do end up having to pay for one, it only costs a few thousands per month, which is well worth it to keep your things protected so you don’t have to worry about them.
It’s easy to access the box. Simply take the key to the bank, sign a form, and the bank employee directs you to your safe deposit box. All information about your safe deposit box and who has access to it should be kept in your Legacy Drawer. When you list out who has access to your safe deposit box, make sure you include your spouse. A lot of people simply assume their spouse has access to it, but that isn’t the case. If the name isn’t listed, the person isn’t able to open the box. It’s a pain, but it’s for your own protection.
A general rule of thumb on what items you should put in the safe deposit box is: If you can’t replace it or if it’s really expensive to replace, then it should go in the box. However, here’s a more detailed list of items to include.
Copy of your last will and testament
Deeds, titles and insurance papers for your house, car and other personal property
Birth and adoption certificates
Marriage and death certificates
Custody agreement and divorce decrees
Military service records
Passports
Copy of your health information (vaccinations, hospitalizations)
Copy of power-of-attorney forms (if applicable)
Social Security cards
Contracts and other legal papers
A videotape inventory of your household items
Valuable heirlooms