Safe Deposit Box Entry Via DPOA

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Question:

Should a bank accept a durable power of attorney to enter a safe deposit box?

Answer:

The answer will very much depend on the contents of the power of attorney document. If the document does not specifically state that it grants the attorney in fact the authority to access the safe deposit box, I'd recommend that you not permit the attorney in fact to enter. If there is any question concerning whether the document provides safe deposit access authority, you should have your bank counsel review the power of attorney before making any decision.

First published on BankersOnline.com 1/07/08