 The information
below shows you what you need to keep and what you can shred.
- Check all your drawers (home and work),
filing cabinets, folders, boxes, glove compartments,
closets, even your safe deposit box.
- Start by stacking all the paper in one big
pile.
- Then separate the papers into
the following five groups:
| 1. Originals you rarely need |
Store in: |
Shred after: |
Give copies to: |
| Adoption papers |
Credit Union
safety deposit box |
Never
discard |
Executor,
lawyer |
| Citizenship papers |
Credit Union safety deposit box |
Never discard |
Executor |
| Divorce decree |
Credit Union
safety deposit box |
Never
discard |
Lawyer |
| Lawsuits |
Credit Union safety deposit box |
Never discard |
Lawyer |
| Household inventory |
Credit Union
safety deposit box |
Never
discard |
Financial
advisor |
| Photos of possessions |
Credit Union safety deposit box |
Never discard |
Financial advisor |
| Military discharge |
Credit Union
safety deposit box |
Never
discard |
Never
discard |
| Veteran’s papers |
Credit Union safety deposit box |
Never discard |
Never discard |
| 2. Originals you sometimes need |
Store in: |
Shred after: |
Give copies to: |
| Birth
certificate |
Fire
and burglar resistant safe at home |
Never
discard |
|
| Cemetery deed |
Fire and burglar resistant
safe at home |
Never discard |
Heir |
| Real
Estate Deeds |
Fire
and burglar resistant safe at home |
Ten
years after property is sold |
|
| Death certificates |
Locked filing cabinet |
Never discard |
Executor |
| Diplomas |
Fire
and burglar resistant safe at home |
Never
discard |
|
| Guardianship arrangements |
Fire and burglar resistant
safe at home |
Never discard |
Executor,
guardian |
| Health
records |
Fire
and burglar resistant safe at home |
Never
discard |
Doctor |
| Immunization records |
Fire and burglar resistant
safe at home |
Never discard |
Doctor |
| Marriage
certificates |
Fire
and burglar resistant safe at home |
Never
discard |
Executor |
| Medical directive |
Fire and burglar resistant
safe at home |
New one
signed |
Doctor, heir |
| Naturalization
Certification |
Fire
and burglar resistant safe at home |
Never
discard |
|
| Passports |
Fire and burglar resistant
safe at home |
It
expires |
|
| Powers
of attorney |
Fire
and burglar resistant safe at home |
New
one signed |
Doctor,
heir |
| Retirement plan benefits |
Fire and burglar resistant
safe at home |
Never discard |
Financial
advisor |
| Social
Security card |
Fire
and burglar resistant safe at home |
Never
discard |
|
| Stock/bond certificates |
Fire and burglar resistant
safe at home |
When sold |
|
| Vehicle
titles |
Fire
and burglar resistant safe at home |
Vehicle
is sold |
|
| Trusts |
Fire and burglar resistant
safe at home |
New one
signed |
Executor,
heir |
| Wills |
Fire
and burglar resistant safe at home |
New
one signed |
Executor,
heir |
| 3. Other Documents |
Store in: |
Shred after: |
Give copies to: |
| College
financial aid |
Locked
filing cabinet |
Ten
years after loan is repaid |
|
| Credit report |
Fire and
burglar resistant safe at home |
New
one arrives |
Financial
advisor |
| Document
inventory (this list) |
Fire
and burglar resistant safe at home |
You
create a new list |
Executor |
| Employee benefits |
Locked filing
cabinet |
Change jobs |
|
| Employment
contract |
Fire
and burglar resistant safe at home |
Change
jobs |
|
| Financial statements |
Fire and burglar
resistant safe at home |
New
ones drafted |
|
| Insurance
policies/invoices |
Locked
filing cabinet |
A
year after replacing policy |
Financial
advisor |
| Letter of last instructions |
Fire and
burglar resistant safe at home |
After writing
a new one |
Executor |
| Loan statements |
Locked filing
cabinet
or ... eStatements |
Ten years
after loan is repaid |
|
| Passwords |
Fire
and burglar resistant safe at home |
Change
password |
|
| Property tax assessment |
Locked filing
cabinet |
New one arrives |
|
| Receipts
(items under warranty) |
Locked
filing cabinet |
Warranty
expires |
|
| Receipts (expensive items) |
Fire and
burglar resistant safe at home |
Item sold
or donated |
|
| Safe deposit
box inventory |
Fire
and burglar resistant safe at home |
Updated |
Executor |
| Social
Security statement |
Locked
filing cabinet |
New
one arrives |
Financial
advisor |
| Transcripts |
Locked
filing cabinet |
You
complete another course |
|
| Vehicle
registration |
Locked
filing cabinet |
New
one arrives |
|
| Vehicle
repairs |
Locked
filing cabinet |
Vehicle
is sold |
|
| Warranties* |
Locked
filing cabinet |
Dispose
of item |
|
*Note: staple receipts to warranties
| 4. Tax Documents |
Store in: |
Shred after: |
Give copies to: |
| Credit Union statements |
Locked
filing cabinet or ...
eStatements |
Seven
years |
|
| Canceled checks |
Locked filing cabinet |
Seven years |
|
| Credit card statements |
Locked
filing cabinet
or ...eStatements |
Seven
years |
|
| Home purchase/improvement* |
Locked filing cabinet |
Seven years after home
is sold |
|
| Tax return/supporting
documents |
Locked
filing cabinet |
Seven
years after filing date |
|
| Form 8606 |
Locked filing cabinet |
Seven years after IRA
is liquidated |
|
*deeds, surveys, title policies, blueprints,
loan papers, receipts, etc.
| 5. Investment Documents |
Store in: |
Shred after: |
Give copies to: |
| Annuity contracts |
Locked
filing cabinet |
Annuity
paid out |
Financial
advisor |
| Loan agreements |
Locked filing cabinet |
Ten years after loan
is repaid |
|
| Pension plan documents |
Locked
filing cabinet |
Never
discard |
Financial
advisor |
| Real Estate purchase/improvements |
Locked filing cabinet |
Seven years after property
is sold |
|
| Investment account
statements |
Locked
filing cabinet |
Seven
years after last investment held in account
is sold |
|
© Excerpted from Inside
Personal Finance, 2004 |
Safe Document Storage
1-800-445-4483