Hiding places for important stuff

[cyndi]

<FONT size=3>I ran across this PDF file that gives instruction to DIY hiding places out of everyday things that are probably sitting around your house.</FONT>


This link has been deleted and replaced.

The PDF was moved here:
http://cdn.preterhuman.net/texts/survival/The Construction of Secret Hiding Places.pdf

 

[VanTramp]

Cool PDF, Thanks for the link <img src="/images/boards/smilies/smile.gif" border="0" align="absmiddle">

 

[GotSmart]

I went to this site, and was immediately hit with a version of FLASH that set off my antivirus. Whatever it was has built in tracking bugs.

 

[stude53]

Had the same problem.:huh:
No more bad links, please.

Bob

 

[Zil]

Yes! please no more links that redirect to a questionable location.

 

[cyndi]

Weird. Yesterday the link was fine. Today it's dead and rerouted me to a local.com page. (no virus and running malwarebytes shows no tracking bugs)

The bad link has been replaced.

 

[jeanontheroad]

If you can afford the $25 a year, get a safety deposit box. That's where our insurance papers, wills, car titles, and my good jewelry is, now. I haven't had much call to wear my good pearls, lately.

 

[Optimistic Paranoid]

If you can afford the $25 a year, get a safety deposit box. That's where our insurance papers, wills, car titles, and my good jewelry is, now. I haven't had much call to wear my good pearls, lately.

A safety Deposit Box is the LAST place to keep wills and life insurance policies, let alone emergency cash.

In most states, if two people have access to a safety deposit box, as soon as one of them dies, they seal the box until the courts can sort things out.

Ask your banker what happens if your husband dies. You'll probably be unpleasantly surprised.

Regards
John

 

[jeanontheroad]

We don't keep our spare cash in the box. Cash or cash equivalents are in bank or trading accounts. Florida is a community property state. Both our names are on the box and everything else except IRA accounts. The safety deposit box may or may not drag things out. However, it does make a good, fireproof, single location for our son to find everything if we both go careening off a switchback, together. For all bank and trading accounts, he is listed as alternative beneficiary. He'll have plenty of money that he can quickly get his hands on to pay any legal fees.

Son is also listed as executor. He is only child. Don't think there will be any trouble with beneficiaries suing each other. He gets all of whatever there is and he is in charge of seeing that it happens that way.

 

[Optimistic Paranoid]

Looks like the safety deposit box works for you.

But you posted it as a general recomendation for others here without noting the potential downsides involved.

Anyway, based on your description of your situation, It sounds like your son should be storing your wills and life insurance policies in HIS safety deposit box.

Regards
John

 

[jeanontheroad]

Optimist, I may give him the wills and life insurance papers (not much). That's a good idea.

 

[Ballenxj]

The link works fine, but I wonder how old this information is?

 

[Seraphim]

A safety Deposit Box is the LAST place to keep wills and life insurance policies, let alone emergency cash.

In most states, if two people have access to a safety deposit box, as soon as one of them dies, they seal the box until the courts can sort things out.

Ask your banker what happens if your husband dies. You'll probably be unpleasantly surprised.

Regards
John

The bank closes accounts as soon as they notified, which generally takes time, unless you specifically tell them. Things may have changed in Ohio lately. DW went to the bank where she had a joint account with her mom, who passed. The bank said the account was in her name as well, so the money was available. DW was not the executor, her brother was. She transferred enough money to handle legal affairs, told her brother and the attorney, to keep it above board.

In the past, when ne of our parents passed, we took the survivor to the bank to open an individual account in the survivors name, and transferred the funds, and then cleaned out the safety deposit box. THEN notified the bank, or allowed the attorney to notify the bank. Never had a problem.

 

[LeeRevell]

Not the way it works here. My late father had an account in his name only when he passed away. This account held the money I paid him each month towards paying off the property I bought. Instead
of having a mortgage he paid the entire thing and we had a "gentleman's agreement" that I pay it off. My Mother gave them a copy of the death certificate, they then transferred the money to my savings account. No problem. Easy peasy.
He had told us on his deathbed that the money was mine, so in effect I was simply paying into my own inheritance. Dad was funny that way - he hated any of us being in debt. Worked well for me. In time my sister gets the house and land, so she stands to inherit a lot more. Fine with me, let her have the tax headache........
Mom has had all her accounts made to include my sister and me as beneficiaries, so the money is available to us when she passes.

---

Dang that 'five minute rule' on editing, hangs us up something fierce. Needs to be changed.
Meant to amend to read that sister gets the parents' property, NOT mine! Which is fine with me, she gets the tax headaches with it.

 

[Seraphim]

There are two things to be careful; one is doing something with which the executor has no knowledge, or has not given approval, and the second is - depending on states - doing something that looks like you're trying to avoid inheritance tax. Spouses have a lot more leeway in such matter.

 

[coolmom42]

So far as bank accounts---the laws vary from state to state, but generally there is an account status called "joint ownership with survivor's rights". If an account is set up that way the survivor has immediate ownership and access to it. If it is not set up that way, even if there is joint ownership, the account cannot be accessed until the estate is probated.

Your executor and your attorney should have copies of your will. Any papers needed to settle the estate should NOT repeat NOT be in a safe deposit box.

It's reasonable to keep valuable items such as jewelry, collectible coins, etc in a safe deposit box.

Make sure that your executor and others know that the safe deposit box exists, and where the key is. If your key is missing, the bank will charge a few hundred $$ to drill the lock.

If you hide valuables in your home, make sure your executor knows where they are. My mother's neighbor had several thousand dollars in cash hidden in her house; it was a fluke that any of it was found, and no one is sure if it was all found.