Is your safe deposit box accessible? Could the inability of your attorney-in-fact (your agent) to access your safe deposit box cause issues? Consider this hypothetical example – a single elderly adult has only one signed original copy of her power of attorney, and she locks that original in her safe deposit box where no one, not even her children, are authorized to access the box. In addition, because of the person’s eventual illness and poor judgment, she will not authorize access to the box. The result – by locking away her legal document and not allowing access at a time of crisis (in combination with other factors), this person in essence relegates herself to the status of someone who does not have a power of attorney document, leading to a guardianship proceeding and the expenditure of tens of thousands of dollars. As mentioned in last week’s blog, where appropriate, your enhanced power of attorney document can authorize your attorney-in-fact to access your safe deposit box upon your incapacity.
- “Your Home, Your Deed, Your Legacy – Ensuring Stability in Baltimore City through Legal Services” co-authored by Olivia Holcombe
- Elville and Associates’ Principal Stephen R. Elville Partners with University of Maryland Autism Research Consortium for Nationwide Webinar Series and Panel Discussion
- The Future of Pro Bono in Maryland
- Elville and Associates Partners with Maryland ABLE to Offer Special Needs Planning Workshop to Harbour School at Annapolis Parents
- Lindsay V.R. Moss, Esq., Becomes Partner at Elville and Associates, P.C.
- A Guide for Making Room for Grief in Work & Life
- How One Thing Might Lead to Another
- How Will My Agent Know Where My Property Is – and How to Access It? The Maryland Fiduciary Access to Digital Assets Act, Digital Storage Options, Safe Deposit Boxes, and Good Old Fashioned Record-Keeping
- The Movement to Improve End-of-Life Health Care Planning
- Fly, Rattle, and Roll