A husband and wife who held a safety deposit box at the bank recently died. Their children would like to open the box, which they think will contain several CDs that are in the name of the children, not the parents. They also think the box might contain a will. The parents did have three CDs issued by our bank in their children’s names. Can the children open the box and remove the CDs? Two of the CDs mature this week, and they don’t want them to automatically rollover.

The children may open their parents’ safety deposit box if they present your bank with an “opening affidavit,” but we do not recommend allowing them to remove the CDs from the box until they present your bank with letters of office, another court order, or a small estate affidavit (if applicable).

The Illinois Safety Deposit Box Opening Act requires banks to open a safety deposit box and remove its contents when presented with letters of office, another applicable court order, or a small estate affidavit establishing that the individual has the authority to take those actions. However, if the bank has not received any of those documents, it may in its discretion open the box and examine its contents in the presence of an “interested person” who presents the bank with a safety deposit box “opening affidavit” (in addition to providing satisfactory proof of the lessee’s death).

Importantly, even if the children provide a valid opening affidavit, they may only examine the contents of the box. No contents may be removed from the box, with the exception of burial documents — even if the children can assert an ownership interest in the contents of the box, such as these CDs. Also, if the box contains the parents’ will, your bank must deliver the will to the clerk of the circuit court where the parents lived prior their death, if known, and otherwise to the clerk of the circuit court where the box is located.

If the children are the sole owners of the CDs issued by your bank, your bank may wish to review the CD agreements. The CD owners may have the authority to cash out the CDs when they mature without obtaining the physical CD documents from their parents’ safety deposit box.

For resources related to our guidance, please see:

Safety Deposit Box Opening Act, 755 ILCS 15/1 (“Upon being furnished with satisfactory proof of death of a sole lessee or the last surviving co-lessee of a safe deposit box, the lessor shall open the box and examine the contents in the presence of a person who presents himself and furnishes an affidavit which states that (a) he is interested in the filing of the lessee’s will or in the arrangements for his burial, (b) he believes the box may contain the will or burial documents of the lessee and (c) he is an interested person within the meaning of this Act.”)

Safety Deposit Box Opening Act, 755 ILCS 15/1 (“For purposes of this Act, the term ‘interested person’ means any person who immediately prior to the death of the lessee had the right of access to the box as a deputy, any person named as executor in a copy furnished by him of a purported will of the lessee, or the spouse, an adult descendant, parent, brother or sister of the lessee. If the affidavit states that none of the persons described above is available to be present at the opening of the box, the term ‘interested person’ also means any other person who the lessor in its sole discretion determines may have a legitimate interest in the filing of the lessee’s will or in the arrangements for his burial.”)

Safety Deposit Box Opening Act, 755 ILCS 15/1 (“The lessor shall remove any document which appears to be a will or codicil and deliver it to the clerk of the circuit court for the county in which the lessee resided immediately prior to his or her death, if known to the lessor, otherwise to the clerk of the circuit court for the county in which the safe deposit box is located. Delivery of a will or codicil called for herein may be made by registered mail sent to the clerk of the said court. The lessor may remove any burial documents and deliver them to the interested person. No other contents may be removed pursuant to this Act.”)