Yes, the Trusts and Trustees Act specifically permits a trustee to enter into an agreement for a safety deposit box.
For resources related to our guidance, please see:
- Trusts and Trustees Act, 760 ILCS 5/4.06 (“The trustee has the powers specified in the Sections following this Section . . . .” “To enter into agreements for bank or other deposit accounts, safe deposit boxes, custodian, agency or depositary arrangements for all or any part of the trust estate . . . .”)