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Essential personal and family records such as birth,
marriage, and death certificates should be permanently
stored, preferably in a safe deposit box. The same rule
applies to passports and original Social Security cards.
Backup electronic copies via scanning should also be
maintained.
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Vital property records, such as real property deeds,
burial lot deeds, and motor vehicle titles, should also be
permanently stored in a safe deposit box.
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An inventory of household goods and appraisals should be
stored in a safe deposit box or electronically with backups.
Photographs or videos of valuable personal property should
also be maintained and safeguarded.
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Insurance policies should be kept a minimum of 7 years in
a home file. A list of all current insurance policies and
policy numbers should be maintained in the safe deposit box
or electronically with backups in the event of a house fire.
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Auto service records should be retained in a home file
for the duration of the ownership of the vehicle. These
records may be helpful when selling the vehicle later.
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Copies of canceled checks for non-tax-deductible
expenditures should be stored in a home file or
electronically for 3 years. Receipts and records of
deductible expenses should be stored in a fireproof home
file or electronically for 6 years.
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Copies of past tax returns should be kept a minimum of 6
years (15 years is best).
Copyright 2014
International Risk Management Institute, Inc.
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