Documents to Shred After 1 Yearĭocuments you can shred after one year include non-tax-related bank and credit card statements, pay stubs, receipts for larger purchases, and investment statements. For this reason, you should keep all documentation until something is paid or sold. Since the utility bills and billing statements are already paid, you won’t face any issues by shredding them immediately. You should also shred documents with sensitive data, such as account numbers and credit card numbers. In general, you should shred unimportant documents that contain your loved one’s name and address. Here are five tips to follow when determining if you should shred the documents of a deceased loved one. Below, we explain how long you should store different types of documents after a death. Nonetheless, you don’t have to hold on to all of the paperwork forever. These documents include tax returns, property or investment sales records, and the estate’s bank statements and accounting records. This is because we recommend keeping most estate papers for 7 to 10 years after a death. Related: What Happens If a Deceased Individual Owes Taxes?Īlthough keeping your deceased loved one’s identity safe is of the utmost importance, you shouldn’t immediately shred all the documents in your loved one’s file boxes. Let’s discuss how long to keep documents after a death. Whether or not your loved one had their paperwork organized, you must go through all of their documents and separate them based on when it’s acceptable to shred them. Furthermore, it can take years before fraud is flagged on a dead person’s file, letting fraudsters open credit accounts, loans, and file for tax returns. So, shredding your loved one's documents rather than throwing them away is the only way to guarantee the safety of your loved one’s identity. It’s not uncommon for fraudsters to sift through garbage to look for compromised information. Shredding non-crucial documents that contain sensitive information is the best way to prevent fraudsters from stealing your fallen loved one’s identity. In fact, fraudsters steal nearly 2.5 million American identities each year to open credit card accounts, apply for loans, and open cell phone plans. With the increase in identity theft and the misuse of other people’s personal information, it’s more important than ever to shred your fallen loved one’s documents. There is one crucial reason why you should consider shredding documents after a death: Identify Theft Why You Should Shred Documents After a Death Here’s a brief table of contents of what to expect in this guide: Today’s in-depth guide covers what documents you should shred and how long you should wait before shredding them. You should keep tax documents for at least 7 years but shred mail offers immediately. However, the timing of when you shred these documents is important. So should you shred documents of a deceased person? Yes, you should shred all documents of a deceased person that contains sensitive information like account numbers, social security numbers, and passwords and pins. As such, you should prevent your loved one’s sensitive documents from falling into the wrong hands. Just because someone passes away doesn’t mean that their identity isn’t at risk of being stolen. The newly deceased are primary targets for fraudsters and identity theft.
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