Most people are surprised when they
make a list of all the important documents they have and take for granted. If
these documents are destroyed, many more additional hours of effort and stress
will be needed to get back to normal after a disaster.
Take
time now to review and protect these
documents while you have the time.
1.
Sort
Documents into 3 categories
a.
What
you use often
i. This category
includes the contents of your wallet, bank information, bills and credit card
information, common identification forms, contact information for family,
friends and businesses
b.
What
is unique to you
i. This category
includes birth, adoption, marriage certificates, proof of citizenship, deeds,
titles, tax records, medical records, prescriptions and conditions, passwords
and account numbers
c.
What
you cherish
i. This category
includes family history, family stories, photographs, small valuable things
(jewelry, books)
Document
|
How
Long to Keep It
|
Bank
statements
|
1 year, unless needed to support tax
filings
|
Birth
certificates, marriage licenses, divorce decrees, passports, education
records, military service records
|
Forever
|
Contracts
|
Until updated
|
Credit
card records
|
Until paid, unless needed to support
tax filings
|
Home
purchase and improvement records
|
As long as you own the property
|
Household
inventory
|
Forever; update as needed
|
Insurance,
life
|
Forever
|
Insurance,
car, home, etc.
|
Until you renew the policy
|
Investment
statements
|
Shred your monthly statements; keep
annual statements until you sell the investments
|
Investment
certificates
|
Until you cash or sell the item
|
Loan
documents
|
Until you sell the item the loan was
for
|
Real
estate deeds
|
As long as you own the property
|
Receipts
for large purchases
|
Until you sell or discard the item
|
Service
contracts and warranties
|
Until you sell or discard the item
|
Social
Security card
|
Forever
|
Social
Security statement
|
When you get your new statement
online, shred the old one
|
Tax
records
|
7 years from the filing date
|
Vehicle titles
|
Until you sell or dispose of the car
|
Will/Trust
|
Until updated
|
