Should It Stay or Should It Go

We get a lot of questions about how long and where clients should retain records. We recommend that clients keep their original trusts and wills in a safe deposit box for their lifetime. We recommend that they keep the originals of their Advance Health Care Directives and Powers of Attorney for Finances in a safe place, where it can be easily accessed when needed.
For Trustees of Special Needs Trusts, whose beneficiaries receive Supplemental Security Income (SSI), we recommend that all records, receipts and bank statements be retained indefinitely.
For more information on what you should retain and what you should shred, we recommend the Federal Trade Commission’s recently published article to serve as a guideline. For the full article go to, A Pack Rat’s Guide to Shredding.


* The information contained in this Blog is intended for general information and educational purposes only and does not constitute legal advice or an opinion of counsel.