Take Care of Your Important Papers

Here's a quick guide to the safekeeping of common family records.

Personal and Family

Item Where To Store It How Long
Birth, marriage and death certificates Safe deposit box or fireproof home storage Permanently
Adoption and custody papers Safe deposit box or fireproof home storage Permanently
Divorce and separation papers Safe deposit box or fireproof home storage Permanently
Will Signed original with probate division of circuit court or safe deposit box (if jointly rented); copy in home file As long as in effect
Advance directive (living will/durable power of attorney for health care) Home file, safe deposit box and copies with agents and family members Permanently (update as needed)
Passports Home storage or safe deposit box Until replaced
Medical history Home file Permanently (update as needed)
Employment records Home file Permanently
Inventory of valuable papers Home file; leave copy with advisors, trusted family members or friends Permanently (update at least annually)

Financial

Item Where To Store It How Long
Stocks, bonds and other securities Safe deposit box; listing in home file Duration of ownership or longer if needed for tax purposes*
Bank accounts, account registers and statements Home file Duration of ownership or longer if needed for tax purposes*
Cancelled checks Home file for non-tax deductible expenditures Three years minimum
List of credit, ATM and debit cards, credit contracts, agreements, records of credit payments and account statements Home file Duration of account obligation or longer if needed for tax purposes*
Insurance policies and records of claims made and paid Home file; list of policies in safe deposit box Permanently (update as needed)
Copies of past tax returns Home file Seven years minimum
Receipts and records of deductible expenses, income and tax payments Home file (current); fireproof home storage Seven years minimum after filing of taxes

* Usually seven years.