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Organizing Paperwork
To Keep or Not to Keep?...That is the Question!
Organizing paperwork of any kind has never been a project I look forward to tackling. I never knew what to do with my papers. But that has all changed since I now
understand what papers I can toss and what papers I should keep.
You too can do this if you keep it simple and follow the tips listed on this page and on How to Organize Your File Cabinet page.
Organizing paperwork is essential to keeping your life and home organized. The following is a list of a keep and toss list:
TO KEEP | TO TOSS |
|---|---|
| Birth or Death Certificates | ATM Records - after posted for the month |
| Health Records | Bank/Credit Card Statements-after one year unless you itemize |
| Insurance Policies-keep current year | Reciepts for Bills - after one month toss unless needed for warranty |
| Mortagage Loan - at least 3 years after paid off | |
| Passport | |
| Deed | |
| Warranty Receipts | |
| Stock/Bond Certificates | |
| Tax Records - for 7 years | |
| Will | |
| Citizenship Papers | |
| Investment Statements - keep monthly then discard after yearly one. |
Documents that REQUIRE a Safety Deposit Box
- Marriage
- Death
- Divorce
- Custody
- Adoption
- Citizenship
- Military Papers
- Trust, Living Will, Power of Attorney
- Savings Bonds
- Photos/CD Discs
- Valuables
- Stocks and Bonds
- Video Tapes of Valuables or Your Home
Please seriously consider using a safety deposit box. Most aren't very expensive especially if you are just using it to store valuable papers.
In the unfortunate event that they are destroyed due to water of fire damage it would be very difficult to account for some of these papers.
So, organizing paperwork is easy. Just remeber again to keep it simple. Organize your paperwork on a daily basis and prevent it from turning into a trail from the start.
Like I mentioned earlier this list is not all inclusive and meant to be a guideline only. If you have any questions regarding organizing your paperwork it is best to consult with a qualified accountant or tax advisor who is familiar with your specific situation.
| Do you need more organizing ideas? Then try our monthly Home Organizing Ideas Newsletter. It is filled with original ideas and expert advice to help you reach your organizing goals. Receive my special free booklet on how you can start organizing your desk, garage, papers, closet and more! It's FREE so SIGN UP NOW by clicking on the link on the top right of this page! |
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