FYI- I have known of an instance where someone has passed away. Enough time passed where it became public information. Family went down to the bank to empty the safe deposit box where some form of liquid assets were kept, and the bank said an irs agent needed to be present to document in the event of “unreported “ cash an such.
Last time was 15+ years ago and things may have changed by now. If not, instruct someone to be at the bank the day after, before it hits the papers.
I’ll be interested to know if this is still an real concern or not.
It's dependent on the banks policy regarding estates. The best is to put both you and another trusted person on the box as a co-leasor. In this instance, they will have access regardless of your death. The problem is they will have complete access before also.
If you are the only person on the box and you die, the bank will require a court order to release it to someone else. If you name someone in your will, that person will have to get the court to issue an order to the bank, and the bank or the court very well may require a tax agent to observe.
At some banks you can assign a deputy with stipulations. This person can access the box providing the deputy agreement is met. It's basically a power of attorney. However, a deputy agreement, as well as a power of attorney, does not have survivorship after your passing.
If it's something like a precious metal, coins, etc just burry it somewhere on your property easily locatable and leave a very detailed sealed note to whomever you want to have it upon your death. This note can be left with the same attorney who has your will. Most will charge a very small fee or no fee to store your will. Just make sure your executor knows who your attorney is.