Offshore Safe Deposit Boxes - get Places to Stash Your Cash

Is A Power Of Attorney Good After Death - Offshore Safe Deposit Boxes - get Places to Stash Your Cash

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You might well, sooner or later, end up in rights of sensitive papers or other transportable assets of great value that should be kept in a safe place - like an offshore safety deposit facility.

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Is A Power Of Attorney Good After Death

What kind of things are we talking about? Any significant papers. Things like automobiletTitles, Coins (rare), Passports, Bearer Shares, Citizenship Records, Bills of Sale, Pension records, school transcripts, trust documents, immigration papers, rare stamps, mortgage documents and so on. You may also wish to store data such as Usb memory sticks or backup Dvds securely off-site.

A safety deposit box is also recommended by many experts for estate planning purposes. To pass the contents of a safe deposit box to your heirs without any formalities, all that is significant is that someone else man have way and a key. This is accomplished by having the inheritor be a signer on the box. If you don't want them to have way while your lifetime, you keep the key and arrange for it to be delivered to them in a sealed envelope with instructions, upon your death or disablement.

Should you Use a Bank or an Independent Safe Deposit Box Company?

Generally the best explication is to rent a safety deposit box in a trustworthy major, first class bank - not just a box company. Many banks will need that you also have an inventory with them and that withdrawals to pay the box rent be authorized in advance.

Why should you use a bank rather than an independent safe deposit company? Because independent associates seem to fold or get robbed with great regularity. Like communal warehouse facilities, they are also often used by less desirable characters.

On the other hand, a secret warehouse outfit may not need any identification to open a box. They may accept any nom de plume you care to give them. Customers may be admitted on the basis of a plastic card without any need to sign in. As such a box is not associated to any inventory or cost facility, it behooves the user to pay several years in advance. This will avoid the box being opened and the contents sold for non-payment of rent.

One client told me the sad story of how after a long hospital stay due to cancer, he discovered that his box in a communal self-storage unit had been opened after a year for non-payment of rent. The contents were sold at auction. He had a collection of old stock certificates that were worthless as stocks, but of great value to collectors. One had a rare former signature of originator Thomas Edison. They were disposed of as scrap paper.

The Best Countries for Offshore Safe Deposit Boxes

Austria, Switzerland and Luxembourg are former safe havens that are exquisite for safe deposit boxes. A good country for a box is one where there is no need to show a passport or go through any formal border controls. This is not the case with Switzerland - unless you take your chances on one of the very few unmanned border crossings!

Vienna and Zurich airports are also suitable national airline hubs. You can favorably pass through these countries when travelling between other cities. Just arrange a stop over long enough to visit your stash; putting in or taking out what you need. For a safety deposit box locale you don't need to seek out a tax haven. Any peaceful, carport country where asset rights are respected is just fine.

Almost all banks offer safety deposit boxes. If yours is settled in a country where you have no problems, it doesn't matter much which one you use. But you should have at least one man you trust who knows about the box and is able to way it. If you have an accident it is foremost that your box not be forgotten or abandoned.

Keep the Key Safe!

When you have opened the box, think depositing the key in a sealed envelope with the bank's safekeeping office or your personal secret banker. By doing this you ensure that the key won't be discovered on your man or among your possessions by anyone with dubious intentions, like your soon-to-be ex-wife.

Many bank safety deposit boxes have two keys - one is held by you. The second (a general pass key) is kept by the bank. Only with both can the box be opened.

In the very latest high-tech safe deposit boxes, there is no key. These safe-deposit boxes can be opened only with fingerprint scans. someone else explication is to use boxes in places where they have composition locks. Experienced safe-crackers are good at chance combo-locks. They are less derive than complicated keys - in our experience. We are likewise not keen on secret memorized numbers. Why? Because we have more than once forgotten an foremost composition or password.

Be sure that you can way the box without showing Id, in case you lose it and need to get at your backup copies that you thoughtfully secured within the box! Some banks, particularly those in Zurich, want to see and photocopy Id every time you way your box - even if you are well known. Where ever your box may be, be sure you are introduced to several of the staff who can help you way your box without Id should you need to. Tell them to take a good look and remember you personally so you can always way your box or the money in the inventory without any identification. Tell them your beloved brainless joke or story and tell them to remember it so that you can tell it again many years later. Then they will remember you!

Shhh... Can You Keep a Secret?

Don't just take a safe deposit box key and keep it on a gold chain colse to your neck at all times. This is something that movie villains do.

If you want something secret, always think ahead. Don't tell anyone about it. Leave the key and instructions with your personal banker or man you trust implicitly. Also think ahead! Leave death instructions in your box - just in case something happens to you. These can be written, or can be on a Cd in video form. Your box will be opened after about a year or two of inactivity - if and when the yearly fees don't get paid.

Sometimes a safe deposit box is forgotten for decades. About seventy years after the criminal mastermind and reputed billionaire Al Capone died in prison, a accomplished bank that he once owned in Chicago was found to have a long forgotten, secret locked secret vault registered in his name. His money had never been found. A national television network bought rights to show the drilling and re-opening of this vault 'live on Tv.' Many people, myself included, tuned in for the grand opening. We notion it would be an event to equal the discovery of King Tut's marvelous tomb in Egypt. What happened? It was a good show with a let-down for an ending. Apparently, man with a spare key to Al Capone's safe deposit installation had arrived there first. Nothing of the slightest interest was in the vault.

Will Your Secrets Die With You?

Most offshore banks will need that you have a bank inventory with them and that they be authorized to withdraw your yearly safety deposit box rent payments from that account. With such instructions and self-operating cost you could be dead for many years before you are presumed dead and your box is drilled. Thus your banker should possibly be instructed to open your instructions (not your box) in case he doesn't hear from you for a safe bet period of time, like say three years. Great yet, your banker should be instructed "after 3 years of no contact, please palpate my attorney, Xyz, or your kids, wife, best friend." man you trust should have instructions on what to do with your assets in the event of your death, disappearance or disability. Your banker should be told what to do or how and when he is to palpate those persons who will verily know where you are.

Perhaps man you trust, who has nothing to gain from suing you, should be given a sealed power of attorney or an assignment plus a valid will so that all loose ends are tied up. Without this, in Switzerland for instance, the bank just keeps your assets! easy as that. In English speaking countries there is ordinarily an escheat law covering dormant accounts and abandoned safe deposit box contents. In England, unclaimed money and assets go to 'The Crown.' In California, box contents and accounts dormant for over seven years go to the Teachers' Pension Fund.

In such cases, the heirs have only a very miniature time to make claim. Most never do because they never learn of the assets.

Your Anonymous Safe in an Austrian Palace

The Swiss and the Austrians generally excel at running discreet safe deposit facilities. In nearly all countries, Id is required to rent a safe box. But in Austria, at the time of writing, there is one safe deposit enterprise offering anonymous safes. It has been colse to for years and was extremely recommended by a reader. It's a good place to store second passports, bank cards and other Pt paraphernalia that you may not want to keep in your home country.

This enterprise has its facilities in the basement of a gorgeous Viennese palace. It's name is Das Safe and its website is http://www.dassafe.com If you are in Vienna, you can visit them at Auerspergstrasse 1. We predict they will stay in enterprise for a long time to come, but for how long they will be allowed to take anonymous enterprise is open to question.

Other recommended safe deposit facilities in Austria are at the Schoellerbank branches (where no key is required - way is regulated by an electronic fingerprint scan) and at the Raiffeisenbank in the 'secret' enclave of Jungholz.

A trustworthy Safe Deposit enterprise in Prague

Another aid we know of is Prague Safe Deposit in the Czech Republic. They need valid Id to open a box. The aid from then on is extremely expert and discreet with no Id required for later access. You can pay up to five years in advance. Entry to the main vault is self-service with a swipe card principles at the main door. You can give the door card and key to anyone. They can then gain way to your safe-box without the need to meet any staff or identify themselves in any way.

This singular enterprise is a joint investment between one of the Czech banks and the Chequepoint chain of money changers. It has been colse to since 1992. They are settled in the basement of an old bank construction just off the sublime Wenceslas Square. They welcome visitors to stop by and examine the facilities. The road address is 28 Ijna 13. The website is not currently available in English, but if you do visit them you will find they speak English.

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