says that if you scan things on paper and save them digitally, the auditors won’t demand originals years later. Fidelity has records for brokerage transactions going back to 1993, while Vanguard has records dating from 1998. Keep copies of all major insurance policies, and a home inventory of things you’ll want to replace if they are damaged or stolen. Estate planning documents can also be a source of contention, so hold onto the originals of any will, trust and related documents, plus beneficiary designations from insurance policies or investment accounts. If you’ve received an inheritance or a gift, you’ll need to document the event and the value as well, perhaps through a formal appraisal.

Source: New York Times February 23, 2018 16:46 UTC