Checklist for Handling Valuables

13. Handling Valuables

• Checklist for Handling Valuables
• 13.1 What is Valuable Personal Property?
• 13.2 What Types of Valuable Personal Property Do You Have?
• 13.3 Planning in Advance – What Are the Options?
• 13.4 Other Factors to Consider
• 13.5 What Happens to Your Property if You Are Detained?
• 13.6 Avoiding or Mitigating the Risk of Loss
• 13.7 How Can You Get Your Possessions or Property Back?

• Figure out what types of valuables you have, both in your home, car and on your person. This may include: electronics, jewelry, furniture, art, clothing, machinery, appliances, identification (license, ID card, passport, birth certificate), heirlooms, photographs or sentimental items.
• Understand that your property may be taken from you and destroyed.
  • Make arrangements in advance for the handling of valuables to minimize this risk.
  • Know your rights regarding property and cash on your person if you are detained.
  • If your belongings or cash are taken, you may petition to get them back by filing with Customs and Border Protection.
• Avoid carrying a lot of cash.
  • If you plan to carry more than $10,000 out of the U.S., you are required to report it.
  • Failure to report can result in civil or criminal penalty, or you could have the money taken away.
• Decide how you want your valuables handled if you are detained or deported.
  • Explore the following paths: shipping valuables to your home country; selling your valuables; transferring valuables (either by gift or on a temporary basis); storing valuables (in a safety deposit box or storage unit, depending on size).
  • Familiarize yourself with the basic process for each option, including the consequences that may result, and follow up that may be necessary.
  • Let your family or household members know about your plan. Provide clear, written instructions.
  • Consider appointing a person with limited power of attorney to implement your plan.
• Know the pros and cons of each option, and how your choice will impact you and your family.
  • Factors to keep in mind: value of item vs. cost of storage; availability of the item in home country; reliance of others remaining in the U.S. for the item; sentimental value of the item; tax consequences of transfer or sale; whether you still owe money on the item, including under any loans agreements or other agreements; whether you intend to return to the U.S., if deported.
  • Talk to your relatives and, if possible, your attorney about these issues.
  • The best strategy will depend on the type of item, as well as your personal circumstances.