Urgent: How to Safeguard Your Most Important Documents from Disaster!

Documents to Keep Permanently

Certain documents are irreplaceable and should be kept indefinitely. These include:

-      Vital Records: Birth, death, marriage, divorce, and adoption certificates. These records are fundamental to your identity and legal status.

-      Property Records: Deeds, titles, and mortgage documents. These confirm ownership and any transactions related to your property.

-      Legal Documents: Wills, powers of attorney, and trusts. These govern how your estate and affairs will be handled.

-      Military Records: DD Form 214, service records. These are important for veterans' benefits and historical reference.

Where to Obtain Originals:

-      Vital Records: These can often be obtained from the city or county office where the event occurred, such as the Clerk's Office. Churches may hold marriage or baptism records.

-      Property Records: These are typically held at your local Recorder of Deeds or equivalent.

-      Legal Documents: Your attorney or the court where the document was filed.

-      Military Records: Contact the National Archives or the appropriate military branch.

Documents to Keep for 7 Years

-      For tax purposes, the IRS recommends keeping certain records for 7 years:

-      Tax Returns and Supporting Documents: Including W-2s, 1099s, receipts, and other documents that substantiate income or deductions.

-      Bank Statements: Especially if they contain information related to tax deductions or other financial transactions.

-      Investment Records: Records of stock, bond, and mutual fund purchases should be kept for 7 years after you sell the investment.

Where to Obtain Originals:

-      Tax Documents: You can request copies from the IRS, your employer, or financial institutions.

-      Bank Statements: Your bank can usually provide copies, though some may charge a fee for older statements.

-      Investment Records: Contact your broker or financial advisor.

Documents to Keep for 6 Years

Certain employment records and other financial documents should be retained for at least 6 years:

-      Pay Stubs: Keep these for 6 years in case of disputes over income.

-      Medical Bills**: These should be kept in case of insurance claims or discrepancies.

Where to Obtain Originals:

-      Pay Stubs: Request copies from your employer or payroll service.

-      Medical Bills: Contact your healthcare provider or insurance company.

How to Store Documents Safely

Protecting your documents from natural disasters, theft, and damage is as important as knowing what to keep. Here’s how to do it:

1. Physical Storage:

-      Fireproof and Waterproof Safe: Invest in a high-quality safe that is both fireproof and waterproof. Store your most important documents here.

-      Safety Deposit Box: For extremely valuable documents, consider renting a safety deposit box at your bank.

-      Organized Filing System: Keep less critical documents in a well-organized filing system, ensuring they are stored in a cool, dry place away from potential hazards.

2. Digital Storage:

-      Scanning and Backups: Digitally scan all important documents and back them up to multiple locations, such as a secure cloud service like My Banyan, and an external hard drive. Ensure that these backups are regularly updated.

-      Encryption: For sensitive documents, make sure they are stored in encrypted files to prevent unauthorized access.

What to Do If Documents Are Lost

If your documents are lost or destroyed, it’s crucial to know how to obtain replacements:

-      Vital Records: Contact the issuing authority, such as the city, county, or state office of vital records.

-      Property Records: Visit your local Recorder of Deeds or equivalent.

-      Legal Documents: Your attorney can help you file for a replacement, or you may need to go through the court system.

-      Tax Documents: The IRS provides copies of past tax returns, and financial institutions can reissue statements.

If you find yourself in a situation where you cannot recover a physical or digital copy, consider speaking with a legal advisor to explore your options.

Properly managing your documents involves not only knowing what to keep and for how long, but also understanding how to protect them from various risks. By following these guidelines, you can ensure that your important records are safe, secure, and easily accessible when needed. Whether you choose to store them digitally, physically, or both, taking these precautions will provide you with peace of mind and protect your legacy for years to come.