Hang on to these….

Whether you save them scanned into a document folder on your computer, or in paper form in a safe place, it is wise to have handy, and in some cases necessary to have certain original documents in paper form because they may have a ‘raised seal’.

Birth certificates, your own along with spouse, children’s, Adoption papers, Marriage certificate, Divorce NISI (final), Social Security card(s) for all in your family, Medicare card(s), Medical insurance card(s), Life Insurance Policy(s) for all in your family, Military Discharge papers. These certificates/documents are sometimes needed in ‘Original’ form. Birth, marriage, divorce NICI, Military papers with a raised seal, original Social Security card, and sometimes Life Insurance Policies.  Scanning them as a backup is fine, but do keep the originals in a safe place.

Car loan documents until the loan is paid in full. When the loan is paid, the lender will send the Title for your car – it can’t be sold without it.  Having the Title means you own the car outright, so keep the original sent to you. You can toss all but the final loan document payment. Keep the Car Insurance Policy.  Each year the insurance policy is renewed, so you can toss the previous year and keep the new.  Keep the Excise Tax payment receipt each year until you sell the car.

Mortgage Loan documents – when the mortgage is paid off, the lender will send a Mortgage Discharge Letter which will have a date stamped, which proves you own the property outright… keep the Discharge letter sent to you. Homeowners Insurance Policy is also renewed annually, so keep the policy and toss when the new one arrives. Keep the Real Estate Tax payment receipts (sometimes the mortgage lender pays these taxes from your escrow account, and the information is on your loan documents.

Keep your Renters Lease Agreement until you move out. Your current Renters Insurance Policy should be kept, and when renewed annually, toss the old.

Keep at least the last 3 bank statements, as you receive the latest, toss the oldest.

Keep any Retirement Account documents.  Some statements are quarterly, some semi-annually, and others annually.  Keep what pertains to your Retirement nest egg.

Income Tax Documents / State and Federal, for 7 years. Also keep your final pay stub each year. If you change jobs during the year, keep the final stub from the company you had worked for. Keep the W2 from every year’s end from any/all jobs.  When you apply for Social Security, it could be your only proof you worked (and paid into Social Security) from that job. Once on Social Security, toss the W2s.

And don’t forget about your Estate Planning Documents, Will/Trust, Living Will, HIPAA Release Authority, Durable Power of Attorney, Health Care Proxy.  The accessibility of these documents should be told to a trusted individual(s) in case of your illness or death.

Whether you scan them into a Document file, or keep them in a home fire safe, or a bank safe deposit box, these are essential to keep and will be handy if and when they’re needed.

It’s better to have them handy when needed rather than spending unnecessary time to track them down.