Secure storage is one of the issues facing anyone contemplating acquiring gold bullion. How to avoid theft of your bullion needs to be addressed before you buy. Knowing how to proceed will help to instill confidence in the entire process of buying this precious metal.
Occasionally the judgment debtor or a third-party, will claim some or all of what is in the Safe deposit box does not belong to the debtor. In that case the non-debtor co-owner would have to come forward and file a third-party claim of exemption with the Sheriff, indicating the source of the funds or assets. If you suspect shenanigans, you may be able to subpoena records related to the ownership of the contents of the Safe deposit box for sale.
If you don’t want the worries that may come with storing the gold an EFT or Exchange Traded funds may be the way to go. EFTs are the mutual funds in gold investing. They are simple. You buy the weight in gold you want and the EFT company holds the gold in your name. EFT companies will charge you a fee to hold the gold, but you will not have to worry about storage.
For a levy that includes a check for safe deposit boxes, instruction letters to Sheriffs should say something similar to: “please have the Sheriff levy all funds under the name of Dan Debtor SSN 123-456-7890 at CostAPlenty bank, 123 Rich Street, San Jose, CA, 90001, for the judgment debtor. Please levy first any and all savings and deposit accounts, and then if the writ of execution is not fully satisfied, check for any and all safe deposit boxes in the name of the judgment debtor”.
Generally the best solution is to rent a safety deposit box in a reliable major, first class bank – not just a box company. Many banks will require that you also have an account with them and that withdrawals to pay the box rent be authorized in advance.
Not updating the Will: The circumstances of life change, sometimes rapidly. Serious illness, divorce, death of a spouse, adoption, birth of each child, moving from one state to another, receiving a windfall, getting married or remarried, fluctuations in asset value, and deaths of heirs can change what you wish to do with your estate. Update your Will annually, or at least review it annually to make sure needed updates are done.
Talk to a qualified, experienced divorce lawyer. An experienced divorce lawyer I know is fond of telling his clients that you do not need a lawyer to get a divorce, but you need them for the consequences of your divorce. He is right. You can likely get a divorce by finding some forms on the Internet or hiring a lawyer that advertises for cheap uncontested divorces. If you have no children, a marriage of only a year or two in duration, no assets or debts have been accumulated during the marriage, and you and your spouse agree on everything, then you probably do not need a divorce specialist. Otherwise, you would be well served to talk to someone who does specialize in divorce and family law.