A safe deposit box is a narrow metal box that is stored in a locked room at a bank or credit union. The boxes can range in size but are typically within 12 inches long, 12 inches wide, and 12 inches deep. For a small yearly fee that is usually between $50 and $60, customers can pay the bank to store valuable documents and items in the box.
What you need to know
Each deposit box usually has two keyholes and requires two keys to open. One key will be held by the customer, while the other key will remain in the possession of the bank. Having multiple keys adds another layer of security, as both a bank employee and the original owner of the deposit box must be present to unlock and open the safe deposit box.
An estimated 25 million safe deposit boxes are currently used in the United States to store valuable documents and items. Although the contents of each safe deposit box may look a little different for each individual, there are some items that are common to find in safe deposit boxes. The items that are typically included either hold great value or cannot be easily replaced.
Some of the items that can be found in a safe deposit box include:
- Social security card
- Property titles
- Marriage licenses
- Family photographs
- Collectibles
To see a more complete list, check out this list of the 13 Most Common Items to Find In A Safe Deposit Boxes.
A probate guide written for people who aren’t lawyers
Probate is notoriously confusing. Small estate affidavits, formal vs. simple administration, executors & executrixes— there’s more than enough jargon to make your head spin. We get it, and that’s why we made a probate guide that actually tells you what you need to know without assuming anything. You’ll walk away with a tangible timeline, actionable next steps and real clarity on what probate actually means for you and your family.
Phil recently purchased a car and is looking for a safe place to store the car title. He rents a small safe deposit box for $40 at the local bank and puts the car title in the box for safekeeping. Phil notices that there's still empty space in the safe deposit box, so he decides to store his social security card, marriage license, military records, a photograph of his grandmother, and autographed Babe Ruth baseball in the safe deposit box. Now that the items are in the safe deposit box, Phil no longer worries about the valuable items being lost or stolen.
In collaboration with
Aaron Schnoor
Aaron is a trust and estates professional and full-time graduate student of Campbell University's Trust & Wealth Management program. Aaron frequently writes and speaks as an industry expert on fiduciary topics related to trusts, estate settlement and generational wealth management. He has been quoted in the The New York Times, Forbes, the Trust Education Foundation and many other publications.
In collaboration with
This could be you
Atticus values the expertise and professional experience of our partners and community of contributors. And we appreciate that's what makes the fiduciary industry so uniquely special.
After all, being a fiduciary isn't something that's just learned— it's a mindset that's demonstrated, tested and enduringly earned.
That's why Atticus is built around a community of passionate executors, attorneys, wealth advisors, probate clerks and other professional fiduciaries.
🤔 Who else are we missing? You!
Join our mission to support families through some of life's most difficult events as we foster financial literacy for fiduciary topics like probate, estate planning, estate administration & inheritance.
Everyone leaves a legacy... together, let's make the process easier.
