Answer:
A power of attorney is a document granting authority for one person to act on behalf of another. The power of attorney itself cannot do anything. The recipient of the POA, the attorney-in-fact (agent or AIF) is the party who may or may not get authority to access the box in the POA. You have to see the POA document to know whether safe deposit access is specifically included.
In many states, a bank can accept or continue to accept the validity of a POA if the attorney-in-fact supplies an affidavit that he or she was granted a power of attorney by the principal, that the POA is durable (or not), and that he or she is not aware of the death or incapacity of the principal which would terminate the validity of the power of attorney. Your bank's attorney can advise you on whether such an affidavit is valid or mandatory in your state, and whether a given POA document will cover safe deposit access. Absent a POA, however, many if not all bank safe deposit departments allow the appointment of deputies, who act as limited agents restricted to safe deposit access.
First published on BankersOnline.com 9/27/10
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