Del Mar - Encinitas - La Jolla - coastal San Diego real estate |
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TYPE OF RECORD HOLDING PERIOD PLACE TO SAVE
For many people, the approach of April 15 means a mad scramble to gather receipts, bank records and other papers needed to prepare their tax returns. Then, with the returns safely in the mail, they store their important papers in drawers, shoe boxes, and other spots - until the next tax season, when they scramble once again. This year, why not break the habit of disorganization, and use tax time as an opportunity to permanently give order to your personal and financial affairs? In the case of papers and belongings that are valuable or irreplaceable, the best storage is in an Underwriters Laboratories (UL) classified fire-resistant storage container. What should you put in your fire-protective container - and how long should it stay there? Here are guidelines for some of themost common documents: Documents Suggested Storage Time · Birth & Death Certificate ............................................ Indefinitely · Contracts ..................................................................... 7 years after contract expires · Deeds ........................................................................... Indefinitely · Tax Records ................................................................. At least 6 years · Bank & Credit Card Records ...................................... 6 years · Health Records ............................................................ Indefinitely · Mortgage, Loan Papers .............................................. 3 years after loan paid off · Insurance Policies ...................................................... 4 years from date expires · Home & Property Inventory: ..................................... Indefinitely (update) (Purchase dates, serial numbers, details of heirlooms, etc.) · Marriage Cert., Divorce, Custody, Adoption Papers ..Indefinitely · Passport ....................................................................... Indefinitely · Stock & Bond Certificates .......................................... 4 years after sold · Owner's manuals, Warranties ................................... As long as you own item · Wills .............................................................................. Indefinitely |
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