Key person insurance is a form of insurance that protects important or essential leaders of an organization. Executors may encounter this term if settling an estate with business ownership interests. These contracts are taken on key employees and are paid to the company in the event of their passing. Therefore, insurance payments to the company should be considered when determining the estate's share of the business interests.
What you need to know
How to open a loved one’s safe deposit box after they die
Opening the safe deposit box of your spouse or other loved one isn’t as easy as driving down to the bank. States often require multiple forms, and the laws depend on where you live. To make things simple, we’ve listed every state and what they require so you can open a safe deposit box quickly and easily.
Find your state’s rulesIn collaboration with
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