Whether your will should be in a safe deposit box at a bank or elsewhere, such as with your attorney, depends on what your state law says about who has access to your safe deposit box when you die. The recent trend in many states is to make it relatively easy for family members or the executor to remove the will and certain other documents (such as life insurance policies and burial instructions) from a deceased person's safe deposit box. In those states, it might be a good idea to leave your will in the safe deposit box. However, in some states, it may require a court order to remove the will, which can take time and money.
Georgia Petition For Order to Open Safe Deposit Box of Decedent
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FAQ
If you are trying to find out if a deceased relative had a safety deposit box, your best bet is to search through their financial and legal documents for any clues or references to one. You can also contact the person's bank and ask if they had a safety deposit box.
There are several ways to avoid probate in Georgia: Establish a living trust. Name specific beneficiaries for accounts and securities. Establish joint ownership of property.
What makes a safe deposit box unique is that it often requires two people to get it open simultaneously, the renter and a bank attendant. Usually the renter holds his key called the renter key and the bank attendant holds a key called the guard key.
In order to have an executor or administrator appointed, a petition has to be filed with the Georgia probate court. With that petition, you are asking the court to appoint an executor or administrator formally. This process is necessary even when a deceased person has appointed an executor in their will.
In order to probate the will, the executor should file the original signed will and, in most cases, Georgia Probate Court Standard Form 5 (Petition to Probate Will in Solemn Form). The standard forms are available at the courthouse or online at the official statewide Supreme Court website.
Requirements: To begin the process, a Petition for Letters of Administration must be filed with the Court. The Initial Filing Fees must be paid upon filing the petition. Any interested party or heir can file the Petition for Letters of Administration.
Georgia law provides a specific fee schedule for executor compensation. ing to Georgia Code Section 53-6-60, executors are entitled to a fee of 2.5% of all money received by the executor and 2.5% of all money paid out by the executor during the administration process.
Any financial institution contracting with a person for the use of a safe-deposit box or receiving property from a person for safekeeping, upon presentation of satisfactory proof of the death or legal incompetence of such person, shall permit any person named in an order granted by the probate court having jurisdiction ...
