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#2137406 - 07/10/17 06:18 PM Co-Executors
LSmith Offline
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LSmith
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A customer has died with only a Safe Deposit Box. There are Co-Executors. One Executor is out of state and cannot come back to close the safe deposit box. Is it permissible to get that Executor to sign a Power of Attorney or just a letter granting permission for the other Executor to act alone to open the Safe Deposit Box, remove the contents and close the box? This would be done under supervision of a bank officer.

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#2137414 - 07/10/17 06:40 PM Re: Co-Executors LSmith
edAudit Offline
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edAudit
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Safe deposits are a matter of state law. however if one person can act by themselves would be noted in the letters of testamentary. As for Power of attorney to an executor would also be a mater of state laws
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#2137415 - 07/10/17 06:41 PM Re: Co-Executors LSmith
edAudit Offline
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edAudit
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It may be helpful to post in the state section
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#2137425 - 07/10/17 07:22 PM Re: Co-Executors LSmith
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
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Assuming your bank is in Mississippi, that's a Mississippi question, but there is no Mississippi forum.

The generic response would be that it depends on what the will or state statute says about jointly appointed personal representatives being allowed to act independently or being required to act together. If there is no such legal authority then the conservative position for the the bank is that both parties must be present and sign in.

The one thing that is universally true is that, in the absence of state law mandating the action, there is no way a bank employee is going to be involved.
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