Estate Planning: What Do I Need Vs. What Can I Toss?

February 8, 2016

When you’re organizing your documents for estate planning purposes, you can also run the risk of keeping too many things, just as you might otherwise run the risk of keeping too little. Your beneficiaries and representatives should be able to identify what is important without becoming overwhelmed in the process. Read on to learn more about what you truly need. shutterstock_269046065

Things to Hold Onto Indefinitely

  • Marriage certificates
  • Current version of your will
  • Military discharge records
  • Birth certificates
  • Divorce papers
  • Tax returns

Things to Keep for One Year

  • Utility bills
  • Paycheck stubs
  • Bank statements
  • Investment statements

 

Things to Toss Out

  • ATM receipts
  • Credit card statements after you have proof of payment
  • Utility bills older than one year

Reducing your clutter and narrowing down what you keep to only the essentials can help you stay more organized and on top of your estate planning. Make sure you reach out to an experienced estate planning attorney in New Jersey when you need to put your materials together or discuss updating existing information. Having the insight of someone who can help you align your documents with your needs can be very beneficial.

 

 


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