I have about four file boxes worth of paperwork: bills, banking stuff, investment stuff, medical stuff etc. from my years as DPOA. Then there’s all the paperwork - legal stuff from serving as Executor for each of my parents estate.
None of it is backed up on disks or those little computer stick thingies - and I have zero interest or intention of doing so. It is fairly organized, however.
I long to get rid of it all. I don’t think I’ll ever have full “closure” until I do. My plan is to take it to a professional shredder. The question is when?
My dad passed eight years ago as of yesterday and my mom will be gone four years at the end of next month. It doesn’t make sense to just get rid of my dads papers as so much of it intertwined with my mothers.
One of my brothers is the suspicious, punitive type but he seemed satisfied with the way I handled everything and I haven’t heard much from him since I handed him his final inheritance check about 3 1/2 years ago. There was an audit done on the estate by our states Department of Revenue - which was settled - finally - about a year ago, ending with them sending money back to the estate which I split with my brothers evenly. Although, I was officially released from my executor duties by the probate judge a couple of years ago - when everything was supposedly wrapped up. Death and taxes - who knew they’d audit an estate tax filing?
ANYHOO... How long are you all keeping paperwork? The traditional seven years that they use to recommend? Or do you think I’m safe to purge it all?
I did keep the deeds to some worthless property he had in NM. Also the 'deed' to 2 cemetery plots.
But all the financials--gone. I would have done this at 7 years, but his acct said to hang on to stuff for 10 years.
So could suspicious punative Bro. be behind this?
If so, he’s probably mulling over another ill fated attempt to get at you. Guys like this are fricking relentless. I’d keep the 4 boxes another 5 years. Just in case.
if the boxes are really bothering you, maybe condense all into new & cute storage bins (like the ones they sell for dorm room decor).
I looked this up for you:
"But hold on before you fire up the shredder—experts recommend keeping most estate records for seven to 10 years after the date the estate is finally settled because of the potential for an Internal Revenue Service (IRS) audit or belated claims from creditors and heirs."
If someone hasn't come after Mom in 4 years, I think ur safe. By this time a company should have written any debt off. You probably sold her home. The Title Company does a pretty good search so I think your safe there. I only keep utility bills for 2 yrs. Last year and the year I am in.
Make two piles, one being a trash bag. Trash and Keep. If not sure, it goes to the keep file. Shread anything with personal info on it like a SS number. Then sit and go thru the keep file and determine what should be really be kept. I am down to a small banker box of my Moms stuff. She has been gone almost 3 years. I have her Medicaid stuff with proof the lean was paid. I have probate papers and papers from the sale of her house. I had Dads military records but I gave them to my brother. Things like that I always give to a family member who is the family historian.
I think, except for income tax records, its pretty safe to get rid of things now.