Best practices include physical storage in addition to USB flash drive/external hard drive storage and cloud storage. You may need to keep your most important documents handy in case you leave the house quickly. The IRS website explains that for many people, keeping tax records for the past three years is sufficient. However, the agency advises people to keep relevant records indefinitely if they do not file a return or if they file a fraudulent return. Individuals who report having suffered a loss caused by worthless securities or bad debts should keep their records for seven years.1 If you frequently drive with documents in the vehicle; whether there is a high probability of imminent emergencies or disasters; in combination with a safe or safe as another layer of fire and water defense Physical filing systems act as another layer in document storage, especially for financial and legal documents. They offer more space and organization, but in the long run, you may prefer an external hard drive and/or the cloud. There are fewer thefts and less physical paperwork to keep. Marital position papers. Documents include marriage certificates, divorce documents, marriage contracts, alimony, and support agreements.
A major downside to keeping documents in your lawyer`s office: You could fall through the cracks if your lawyer (or even someone else in practice) retires, dies, or otherwise leaves. The most important information you can keep safe in your home is information and instructions for your family on where to stay safe and how to access it, as well as contact information for your lawyer, insurance agent, financial planner and bank. This is all information that could be crucial for your family in the event of a death. That said, the chances of your items remaining intact are in your favor. (Don`t forget to pay your rent on time!) Safes remain a relatively good choice for storing many types of important documents, including these: With the advent of home safes, it`s less common these days for your lawyer to keep your estate planning records, original will, and other legal documents. Companies such as Gudorf Law in Ohio recommend customers use a home safe or fireproof box to store these documents. The firm scans and makes copies, which are accessible through the online client portal.7 However, there may be reasons to keep the documents in your lawyer`s office. Maybe you don`t trust your family or your home has been broken into several times. Talk to your lawyer about how documents are stored and if there is a written policy on storage and disposal. Don`t forget to tell your executor where the will is stored.
Aside from the (admittedly unusual) problem of flooding, I needed to know which papers are better kept in a safe and which are perfectly fine in your medium-fire proof safe. Here`s what I discovered: That said, cloud storage is a smart solution for many types of documents, especially if you`re running a business. You reduce the amount of paper carried and can access cloud files from anywhere as long as you have an internet connection. Fire, water, theft, etc. are less worrisome, but take proper cybersecurity protocols. A locker is perfect for storing original documents such as birth certificates, wills, social security information, annual tax returns, and powers of attorney. The key with a safe is to be planned in advance. Because the box is at your bank or credit union, you can`t quickly access the information when needed, so make copies of the documents with information you might need at any time to keep them at home.
Everyone has important documents, from birth certificates to banking information, that they want to keep safe. While we never want to think of bad things, these documents are all crucial in the event of an emergency or disaster. Fortunately, it`s easy to store and protect them. With some planning, organizing, scanning, and storing tools, you can keep all your important documents in one safe place. Another option is to store the documents in fireproof and waterproof bags in the safe. The bags themselves offer protection from fire and water, but not as much as a safe. However, when combined, they provide another layer of defense. They are also easy to grasp for a quick exit before disaster strikes. Good document storage also includes good disposal. After all, any document that is in a garbage can is at risk.
Shred the documents you don`t have, whether it`s ATM receipts, bank statements, copies of your birth certificate, credit card bills, legal documents, real estate transactions, medical records, password lists or utility bills. If you don`t own a shredder (or even if you do), many communities hold shredding days at the same time as drug buyback days. Many office stores also offer document destruction. The above points are important for protecting your valuables, but another point to consider is a home security service that monitors your home for burglaries or other emergencies. A home security service can alert authorities to emergencies in time to prevent a catastrophic loss of valuables or catch thieves breaking into your home. Be careful when making (or receiving) copies of personal identification documents, such as your birth certificate and Social Security card. Unfortunately, it is not possible to laminate a birth certificate and other important documents such as your marriage certificates. Indeed, it may be more difficult to confirm whether these are official documents or not.