What Should You Keep In Your Safe or Deposit Box?

"What should I keep in my safe or in my bank?" is a common question in my line of work. Like so many other areas of organization, this is a personal decision. The following questions may help when determining what to lock up:

Will it be needed to prove ownership in case of an insurance loss?
Will it be needed to claim a future benefit, such as an annuity?
Is it difficult to replace?
Is it small and valuable?

I can't list every document you'll need for your vital records because each person's household requires different sets of paperwork based on their needs and purchases but here are the big categories and then you can fill in the blanks:

Identification & Family
Health & Medical
Finance & Property
Insurance
Estate Planning & Taxes
Emergency Planning & Contacts
Other

Just to give you an example of "fill in your blanks", under Identification you would have your certificates such as: birth certificates, education certificates, religious certificates, marriage certificate and death certificates as it relates to your immediate family.

I often use the "PortaVault" (a binder that you can store, identify, organize, store and transport your vital records to and fro) as my guideline while helping clients collect all their documents. Then when we complete the binder we put it into the client's safe.

Putting all your important papers together sounds like a tremendous undertaking but it's really similar to any other organizing project. You just take one little step at a time. Maybe this week/month you pull together all your insurance policies and update your beneficiary forms and when finished with that goal you'll create a Living Will for you and your husband. Some people find this mission is so daunting that I have provided this month's coupon (below) to help one attack this task.

Do you own a safe or rent a safe deposit box? If not, here's why you should:

The first reason is of course to protect yourself from theft, not just for your valuables but also from identity theft regarding your vital documents.
The second one would be in case of fire or natural disaster.
Near and dear to my heart, a safe provides a home for all your critical paperwork. Should a crisis come into your life and you have all your papers "in order" this will help ease tension by not having to find things under duress.

Many people are opting to own a safe mostly for the convenience of it. If you chose to rent a safe deposit box, make sure you have a second name on the rental, someone who you can trust to access the box. Also, remember that you would be subject to the opening hours of a bank and that the bank is not insured for your valuables. Lastly, do not forget where you put the keys to your box!

The idea of having your own safe replaces the need for renting a safe deposit box. I personally like the idea of having a safe in the house with the originals and copies of the paperwork in the bank but that's my professional organizer mindset of always having a "back-up". At the very least, have one or the other.

Tips on buying a safe or safe:

Figure out what is going to go into the safe first because safes come in many sizes and prices.
At the same time, decide where the safe is going to go because "out of sight" is out of mind. It must be a convenient place for you to keep your valuables or you're just not going to use it.
Do you like a combination lock or would you want a keyed entry?
Would you want it bolted down or do you want a "microwave" safe that you can move around?
Buy a safe with a fire protection of at least 1-2 hours.
Make sure you purchase one from a locksmith who is licensed, bonded and insured.

At POSSE (Professional Organizing Solutions Serving Everyone) we cater to homeowners who want one-on-one help with their organizing endeavors whether it's their space, papers or time. Besides transferring these organizing skills to our clients, we also hold organizing classes called Clutter Corrals, have a monthly forum for supporting each other called POSSE's Pen and we also give organizing presentations as well. To learn more about the author and owner, Jean Marie Herron, and sign up for her free newsletter go to http://www.POSSEPartnersLLC.com.

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