Where To File Important Documents

Every one of us accumulates important documents during our lifetimes, from investment and banking information to our estate and important personal papers.  One of the most important things to consider is where to file these records. 

When it comes to documents such as deeds to property, stock and bond certificates, life insurance policies and estate planning documents such as wills and trust one of the safest places is in the bank safe deposit box. However, keep in mind that unless the box is owned jointly with other individuals or owned in a trust (like a living trust) the contents may become inaccessible if the single owner becomes incapacitated or dies, thus requiring a probate court order for access by family or estate fiduciaires. 

For documents like brokerage statements, tax returns and other personal records these documents can be kept at home.  I often recommend that a fire proof safe or box be purchased (some are rather inexpensive at the local box retail store) to keep important papers at home. They are not 100% guaranteed but do a better job then a shoe box.