Mom's estate is finalized and I've got papers going back at least a decade, tax stuff but CC statements and bill summaries as well - how rigorous do I need to be when I get rid of all this stuff?
And why is there is no category for After Caregiving ?
You know that whole 3/6 years statute of limitation thing? Read the fine print. The IRS, and states, reserve the right to extend that out to forever. Granted, the more years it's been the less likely you will hear from them. Still.... people have gotten substitute tax returns from the '80s. And is the case in America with many parts of the government, you are guilty until you can prove yourself innocent. So you need the ability to prove yourself innocent otherwise the assumption of guilt holds.
We had a mess after Hurricane Katrina. So much was lost. Not just in our homes. Mom’s house had nine feet of water, but the funeral home flooded and I couldn’t even get a copy of daddy’s death certificate from them.
I agree with JoAnn, we do need to keep certain papers for a number of years just in case the IRS comes knocking on your door. Along with bank statements, etc.
When my folks had passed, I found income taxes going back to the 1940's. My gosh, how did people survive on such low incomes. Ok, I know, bread was only dime. I also found all of Dad's paystubs from 45 years at the company where he had his career. I did keep the settlement papers for the houses they had bought, along with the closed mortgages.
My folks had already had their credit frozen, so I didn't need to worry about that. I froze my credit about 8 years ago. That way, no one can apply for credit under my name, or buy a car or apply for a house loan.
I haven't gone paperless, I still don't have the warm fuzzes when it comes to storing info in a cloud. All my financials came to the house via the mailman, and goes into 3-ring binders.
This is why I'm converting everything possible of my own accounts to paperless.
Our city does that 2xs annually for safely disposing of documents.
It is better to error on the side of safety, unless you are a criminal mind you just don't know what makes their activities easier.
Before our city offered shredding services for free our elderly neighbor died and her children had flown in to deal with everything, we used our BBQ grill to burn all of her papers for them. It only took a couple of days and made some lovely ash for the compost pile.
you would not be liable if someone steals her identity... but clearing up the mess within settling the estate can get it be a big hassle.
shredding all that is a good plan...but, be aware that many people have identity theft after the obituary is published. Millions of people with all their identification are in database on the dark web...for sale.
As others have said be very rigorous about not leaving personal info where it can be stolen.
Can you buy a BBQ and do some burning when the weather gets better?
here's a link to some ideas
https://www.polaroidfotobar.com/burn-paper-documents-at-home/
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Having said that, the chances of someone digging through your trash to get anything of value is low. Why would they? They can buy your personal information online for a few dollars. Much easier and cleaner than digging through someone's trash.
People don't really get how freely available their PI like their SSN is. It didn't even need to be stolen. It wasn't that long ago that the government published people's SSNs on various websites. It's best to assume all your information is freely available and to shield yourself accordingly.
Keep tax records for 5 years.
Keep the last year of bills. Just in case someone says they haven't been paid. Actually, don't think they can come back to u after Probate.
Keep bank Statements for the last year.
Of course keep anything that had to do with probate.
I have kept Medicaid Info especially paperwork saying the lean was satisfied. And the sale of Moms house. Realtor and Title info.
I kept the five years of statements especially those that I wrote checks from. I have kept receipts to back up checks I wrote for myself.
Yes. Probate is done. My brothers excepted their inheritances but I feel that u never know. Mom has been gone 2 yrs. In another 3yrs I will probably get rid of most of the paperwork. I have her down to a storage box. Her whole life in a storage box.
My solution when we lived on a farm was the good old fire pit, but my town neighbours wouldn't appreciate that.
If you are assured from anyone advising you as to any possible need of paperwork for tax implications etc. You would know what might have to be saved but it sounds as though there might not be that need.
Great idea about your category suggestion. You would need to contact AC staff. They are good about emails regarding responses but impossible to speak to.