Are Your Documents Safe?

The Optical Journal - optical news with independent views

I have just finished my taxes and the age old question always occurs, how long do you keep the taxes, what documents do you need and how to keep them safe. I also gave a list of pertinent information to a relative for safe keeping- just in case.

The following documents are crucial to retain;

  • Family birth certificates
  • Social Security Cards
  • Power of Attorney documents
  • Insurance Policies
  • Real Estate titles and deeds
  • Retirement Plans
  • Investment Trade Confirmations
  • Military documents and veteran benefits.

Documents to Keep for a definitive amount of time

  • Tax Returns and supporting documents/receipts for 7 years. (IRS says 3 years)
  • Original receipts for items under warranty
  • Pay stubs til the end of year to confirm totals

Protection of Documents:

  • Keep in Safety Deposit Box
  • Purchase a fireproof safe to protect extremely important 1 of a kind documents.

Checklist of Documents to Keep in Locked Fireproof Box:

  • Birth Certificates
  • Social Security Cards
  • Passports
  • List of Bank Accounts
  • Contact Information
  • List of Insurance Policies
  • Will
  • Copy of durable power of attorney
  • List of Investments and retirement accounts
  • Copy of any wills that you are an executor
  • List of doctors and contact informations
  • List of medications and prescription numbers
  • Home Inventory list