CAN A SAFE DEPOSIT BOX BE JOINTLY HELD?
Yes. Under Missouri statutes, a safe deposit box can be jointly rented. This type of registration must be specifically noted in the rental agreement with the bank or safe deposit box company. With a jointly rented safe deposit box, the surviving joint tenant will have immediate access to the box upon the death of the other joint tenant. However, even though a safe deposit box is rented in joint names, that alone does not mean that all of the assets contained in the box are also jointly owned. Joint ownership of a safe deposit box may complicate matters rather than making them simpler. Sometimes a safe deposit box may be titled in the owner’s name alone, but with the designation of an agent or attorney-in-fact. It must be remembered that the authority granted under such an arrangement terminates, and the agent or attorney-in-fact no longer has ability to gain entry to the box, immediately upon the death of the owner. SHOULD I USE A JOINT ACCOUNT TO ALLOW FOR ASSISTANCE IN WRITING CHECKS
