The bank holds a key, and the customer has the second key. Both are required to open the box. Common items include property records, insurance policies, stock or bond certificates and personal documents, such as birth certificates, marriage licenses, adoption papers, business contracts, trust agreements and an inventory of household valuables. People who put copies of their wills in safe deposit boxes also should give a copy to a their lawyer, a family member or trusted friend. Many safe deposit box users also store seldom-worn jewelry, small family heirlooms and valuable collections of stamps or coins.
Some banks prohibit storage of certain items, so check with the bank to learn what can be stored.
Generally, money cannot be kept in a safe deposit box, Wright said. So read the lease contract carefully. Also, make sure someone knows the name of the bank where your safe deposit box is located, the number of the box and where you keep the key. The bank is responsible for helping prevent any unauthorized person from accessing the box. Married couples may want to have a joint tenancy with a right of survivorship arrangement, she said.