Top 10 Paper Items To Keep Indefinately

Whenever I’m working in offices, whether home or business, the question always arises as to what to keep and for how long. Most people know that for income tax audit purposes you need to keep your tax returns and related papers for seven years. But what about some of those other papers? Here’s my top 10 paper items to keep indefinitely.

Birth certificates
Deeds for burial lots
Inventory of household goods, updated periodically
Divorce agreements and Decrees
Citizenship papers
Adoption and custody records
Wills and Powers of Attorney (ensure someone knows where these are)
Death certificate
Record of Employment
Insurance records for claims and payments made

Items that you do want to keep indefinitely should be stored in a safe environment, such as a safety deposit box. Safety deposit box rentals are often difficult to get from financial institutions because of the sheer demand. Something new is on the horizon for the storage of your valuables. Essentially a very tiny condo (square inches instead of feet) and fairly expensive, very soon you will be able to purchase one of these units to call your own. Complete with security and even your very own parking space, these mini condo safety deposit units will be on the market to purchase soon. The first one I am aware of is currently being developed in Markham, Ontario. I’m sure many more will be developed as the demand arises. Will you be one of the first to buy your very own safety deposit unit for your valuables?