Ask Experts Questions for FREE Help !
Ask
    pking78031's Avatar
    pking78031 Posts: 1, Reputation: 1
    New Member
     
    #1

    Mar 19, 2011, 11:01 AM
    Cosigner on bank safety deposit box?
    I live in Mississippi. I was co-owner to the bank safety deposit box which my father had at the time of his death. There was a will, which I am the executrix. There was some cash in the box, which I used to pay for the funeral. What are my responsibilities concerning the remaining cash? I have a "greedy" sister who insists it is hers.
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
     
    #2

    Mar 19, 2011, 11:40 AM

    What does the will state for distribution of property ?

    That should tell you how to proceed. Treat it as if it were contained in an account. And disperse it per the instructions.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #3

    Mar 21, 2011, 09:49 AM

    Your sister seems think that you used your portion of your inheritance to pay for his funeral, and so now she should inherit an equivalent amount for herself. That is incorrect. The funeral costs may be paid out of your father's estate assets (which includes his belongings in the safe deposit box), along with paying his debts and any costs for settling the estate, and then only after those expenses are paid for should you as executrix distribute the remaining assets to the heirs in accordance with the will. This assumes that the will doesn't have any specific instructions regarding what is to be done with the contents of the safe deposit box.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Is there a contract that can be drawn up simutaneoulsy with a bank loan for cosigner. [ 3 Answers ]

I am needing a loan from a bank. And my parents aren't willing to co-sign unless there is a contract or some sort of "pardon" or no repricussion on them if I default on the loan. Is anyone aware of such contract? Can a lawyer draw me up a contract stating that, that will pardon them of repaying the...

Found CD in Safe deposit box - bank is gone [ 4 Answers ]

I found a 1k CD in my son's and my name (as custodian) that dates back to his birth in 1988. It is the original certificate so appears to have never been cashed in. How do I find out and redeem it (hopefully? The bank is no longer in existence in CT - it was Gateway Bank who was bought up or...

Missing Safety Box [ 4 Answers ]

Is it possible for a bank to lose a safety box? Yesterday I received a phone call from the bank that there was something wrong with my box and once I went to the bank they first told me they had no record of my box. Then they come back and tell me that they had to drill into my box but the box was...

Safety box [ 5 Answers ]

Does anyone knows about safety box? I said safety box in bank can not 100% safe. Someone can steal or rob it. My friend said that is impossible. Who is right ?

Banks lease safety box [ 2 Answers ]

In Japan Major bank lease safety box in same premises for customer. Customer use these safety boxes to keep valuables ( cash, gold, jewel ) Now I am looking for safety box leased by bank in New York or other state. But I couldn’t find out. Where can I find out those safety boxes?


View more questions Search