How comfortable would you be keeping a large amount of cash in a safe deposit box?

And no this is not illegal. (nor is the cash)

How comfortable would you be keeping a large amount of cash in a safe deposit box?
What blessed said if there is a death the bank seizes the box. They have personnel that all they do is look at death notices and look for box owners.





What is large to you? 6-figures, 5 figures? There are ways to have the money earn while it is 'stashed'








EDIT


Overseas accounts


IRS has many cautionary notes on this though and enforce it pretty hard.





Overseas business ventures including cross border leasing the big corporations have used this for years. Just make sure the business has an element of risk or IRS frowns on that too.





Trusts





The list is really endless and is up to you on how much risk you want vs reward.





EDIT II





Well then Money market account or buried with GPS coordinates on property that you own would work.
Reply:Many people do. The down-side is if there is a death -- let's say with one of a couple sharing joint access, the government puts a restraining order that seals the box and anything secret is revealed at that point.





On the plus side of your idea -- money and interest is pretty much worthless at the present time. Leaving the money under your mattress, a deposit box or a savings account is all about the same except in the hypothetical scenario I mention at the start of this answer.
Reply:Sure, why not? It's not earning interest but neither does it show up in any financial documents that the taxman might look at.





But your comment about it being illegal is incorrect, it could be illegal if you're intentionally hiding your assets from the government or another reason like to qualify for low income subsidy, food stamps etc.





Phur
Reply:Money in my savings account earns 4% interest.


Money in my desk draw earns 0%.





I prefer to earn money.