Safe deposit boxes are the easiest way for most of us to safely store valuables. To get the same protection at home, you'd have to spend a lot of money and go to a lot of trouble.
They're not 100% safe, nor are they FDIC insured. However, the odds of loss are slim, and you can insure some of that risk privately if you're worried.
MainStreet provides tips on using safe deposit boxes, along with some dramatic stories about what can go wrong. Take a moment to review their tips and see if you should do anything differently [via WiseBread].
While safe deposit boxes are a great place to put documents, some items should not be locked away. For example, you may need medical powers of attorney and living wills quickly - and sometimes emergencies happen on the weekend. Talk with your estate planning attorney about using multiple copies and storing the documents so you can use them.
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