Legally, the point in time when ownership in a financial assets pass to another individual. For example, employee stock options may have a vesting period of 2 years which means the employee will not own the options until the end of year 2. Executors need to understand this term to accurately value the estate at the time of death. Contracts that have not vested at the time of death should not be included with the financial assets of the estate, however it is always advisable to seek legal counsel if the terms are unclear.
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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