What to Keep and When
to Shred after death
These documents should be located and kept until the estate is
settled:
• Appraisals
• Adoption papers
• Baptismal certificates
• Birth certificates
• Death certificates
• Divorce orders
• Employment records
• Ethical will
• Marriage certificates
• Medical records
• Military records (DD 214)
• Retirement and pension records
• Social Security cards
• Trusts
• Wills and codicils
These documents should be stored until it is time to be
shredded:
• Bank statements: Keep for one
year after tax returns are filed.
• Bills/sales receipts: Keep
receipts for high-value items to prove the value for inventory purposes. Keep
receipts for any tax- or warranty-related items for one year. All other bills
should be shredded as soon as they have been paid.
• Credit card statements: Shred
unless tax-related. If tax-related, keep for seven years.
• Home improvement receipts: Keep
until the home is sold; they are important for tax purposes when establishing
the cost basis of the home.
• Homeowners’ insurance policy:
Keep until the home is sold.
• Investment records/IRA statements/brokerage
statements: Keep for seven years after your loved one’s death and
after the account is closed. Keep quarterly statements until you get an annual
statement; then compare the statements and shred the quarterly ones.
• Leases: Keep until the property
is vacated and you have received the security deposit back from the landlord.
• Life insurance policy: Keep
until the policy is paid plus three years.
• Mortgage statements: Keep until
the mortgage is paid off plus seven years.
• Passport: Shred.
• Paychecks/pay stubs: Keep for
one year or until the last W-2 is received.
• Tax returns and related documents:
Keep for seven years, including all accompanying documents such as W-2s and
receipts.
• Vehicle records: Keep until the
car, boat, or motorcycle is sold.
Source ABA/AARP Checklist for Family Survivors
Executor to do
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