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Yan’s Notes32
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Safe Deposit Boxes: Convenience or Capital Trap?

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Yan from Owner.One

Many capital owners keep their money assets that can be easily accessed by their families. One such "convenient" option is bank safe deposit boxes, utilized by up to one-third of surveyed wealth holders. Their accessibility creates the illusion of a quick and simple transfer of assets from the founder to family members. However, only 2.64% of respondents are aware that in several countries, there is a rule: if a safe deposit box is not renewed on time, the bank will open it in the presence of police, and its contents will be placed in a "black bag". Retrieving your money and valuables can only be done in the same manner — under police supervision, which means you will need to explain their origin. A paradox also exists with other popular assets. In an attempt to secure themselves by holding only the most liquid assets, capital owners invest in asset classes that are, in fact, susceptible to capital loss during planned or unplanned transfers to successors.

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