“Thought for the Day” #674 – by Stephen R. Elville, J.D., LL.M.

February 26, 2016

Safe deposit boxes, specifically how to deal with safe-deposit boxes upon incapacity, is one of those obscure planning issues that is rarely understood or properly dealt with.  Typical powers of attorney only authorize the agent to obtain or secure (rent) a safe deposit box on your behalf, but do not allow them entry.  Where appropriate, your enhanced power of attorney document can authorize your attorney-in-fact to access your safe deposit box upon your incapacity.