Documents to Always Keep

Some documents should be kept permanently in a safe, secure location:

• Birth and marriage certificates

• Social Security cards

• Passports

• Property deeds and titles

• Adoption or citizenship papers

• Divorce decrees

• Estate planning documents (Will, Trust, Power of Attorney, Health Care Proxy, etc.)

Tip: Keep originals in a fireproof safe or safety deposit box, and give copies (or access) to a trusted loved one or advisor.

Documents to Keep for 7 Years

For tax and financial records, the general rule is to keep documents for at least 7 years, in case of IRS audit or future reference:

• Tax returns and supporting documents (W-2s, 1099s, receipts, etc.)

• Bank and brokerage statements

• Medical bills (especially if used for tax deductions)

• Credit card statements related to deductible expenses

• Mortgage and loan statements

Tip: You can go paperless, but make sure your digital records are backed up securely.

Documents You Can Toss

Some papers can safely be discarded—ideally shredded to protect your identity:

• Expired insurance policies

• Monthly utility bills (unless used for home office or tax deductions)

• Credit card statements (after confirming charges and paying in full)

• Duplicate copies of already-stored documents

What About Digital Records?

More and more documents are now online. Make sure you:

• Keep a secure list of accounts and passwords

• Use secure cloud storage or encrypted drives

• Let a trusted person know how to access your digital files if needed

Disclaimer: The information provided above is for general informational purposes only and is not legal advice.