NEVER Throw Away These Documents

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Published February 16, 2017

While the winter months are a great time to purge your home of paper clutter, there are few documents you should absolutely keep in a safe place. We asked Amy Panos, a senior editor at “Better Homes and Gardens,” what you should have on hand in the event of an emergency.

Vital Records

Birth/death certificate
Marriage license
Social security card
Military discharge papers
Divorce decree
Passport(s)
Property deeds
Titles to vehicle(s), boat(s), etc.
Documents relating to loans
Bonds and other items that equate to cash
Insurance policies

Panos says to keep the above items in a home fire safe, which is a small safe that can withstand fires.

Tax Records

Keep everything related to the current year, including receipts, pay stubs and W2 forms.
Keep returns and their supporting documents from past years in another file. The IRS advises keeping tax documents from the past seven years; in the event you are audited, the IRS can look up to seven years into your financial history.

Statements From Investments

Hold onto quarterly statements you receive until you get the next one. At the end of the year, file away your year-end statement; that is all you’ll need. Once you have your year-end statement, SHRED your quarterlies.

URL

https://www.foxnews.com/lifestyle/never-throw-away-these-documents