What documents should you keep?

What important documents should I keep?

How long should you keep documents?

  • Store permanently: tax returns, major financial records. …
  • Store 3–7 years: supporting tax documentation. …
  • Store 1 year: regular statements, pay stubs. …
  • Keep for 1 month: utility bills, deposits and withdrawal records. …
  • Safeguard your information. …
  • Guard your financial accounts.

What papers should I keep and for how long?

To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.

How do you decide what papers to keep?

Tax returns and supporting documents (keep for at least three years, but ideally up to seven) Pay stubs (keep for at least six months, but ideally up to one year) Social security statements (keep current copies) Year-end retirement fund statements (keep current copies)

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What documents should I keep in a safe?

What to Keep in a Safe

  • Birth Certificates. Keep original birth certificates of everyone in your family in a secure, fire-proof safe. …
  • Social Security Cards. …
  • Passports. …
  • Living and Last Wills. …
  • Tax Returns. …
  • Property Deeds and Ownership Forms. …
  • Financial Accounts Information. …
  • Professional Appraisals.

31 июл. 2018 г.

What are the four must have documents?

This online program includes the tools to build your four «must-have» documents:

  • Will.
  • Revocable Trust.
  • Financial Power of Attorney.
  • Durable Power of Attorney for Healthcare.

How many years of bank statements should you keep?

Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.

What papers to save and what to throw away?

Important papers to save forever include:

  • Birth certificates.
  • Social Security cards.
  • Marriage certificates.
  • Adoption papers.
  • Death certificates.
  • Passports.
  • Wills and living wills.
  • Powers of attorney.

14 июл. 2020 г.

Can I throw away old mortgage papers?

The U.S. government recommends that you hang onto any deeds as long as you own the property, but if you’ve paid off your mortgage and the deed to your property has been recorded in land records, the documents can be tossed. That’s because most municipalities have copies of these documents available online.

How long should you keep bills before shredding?

Other records

Also, shred sales receipts, unless related to warranties, taxes, or insurance. After one year, shred bank statements, pay stubs, and medical bills (unless you have an unresolved insurance dispute).

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How many years of documents should you keep?

Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.

How does Marie Kondo organize paperwork?

6 steps to organising paper, Marie Kondo style

  1. Identify papers and where you store them. We thought we don’t have much of them, but we do. …
  2. Discard everything. …
  3. Sort remaining papers into two categories. …
  4. Put papers to be dealt with at one spot and a vertical organiser. …
  5. File papers that must be saved according to frequency of use. …
  6. Digitised papers.

How long should you keep car insurance statements?

How long to keep insurance records. If you are wondering how long to keep car insurance records, the answer is usually one year or less, or for as long as they are valid. If you still have the documents, for example, for a car you no longer own, these can be safely discarded.

Where should you keep your birth certificate?

Birth Certificate

Make copies to keep in your files at home and keep the originals in a safe deposit box. You may need to access the information on birth certificates, so keeping a copy close by is a good idea.

Where should you keep your house deeds?

You can also store your title deeds in a safe deposit box at your bank or building society. This is a very secure option, but you will usually have to pay an ongoing charge for hiring a deposit box and possibly pay a fee every time you want to view the deeds.

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How do I protect old documents?

Store documents flat in a cool, dry, and dark area. Papers should always be stored in acid-free, alkaline materials (like boxes, folders, or mats) or in polyester film folders. Never keep your documents in a damp or humid areas, such as basements, attics, or bathrooms.