What to hold.
WHAT TO KEEP
Income records, from all sources Tax filings and evidence of payment Bank statements Loan agreements and payment records Insurance policies Investment and pension documents Property documents Your will
HOW LONG
Per the applicable retention periods, and indefinitely for anything evidencing ownership.
WHY IT MATTERS
You will be asked for these at inconvenient moments: borrowing, visas, property, disputes.
WHAT TO ORGANISE
By category, then by year.
WHERE TO KEEP
Originals secured, digital copies backed up.
WHY BOTH
Originals are occasionally required; copies are what you actually use.
WHAT TO PROTECT
Access, since these documents enable impersonation.
WHAT TO MAINTAIN
A list of what exists and where.
WHY
It is what someone else needs if you are unavailable.
WHAT TO INCLUDE IN THAT LIST
Accounts and institutions Policies and their numbers Obligations and their terms Key contacts Where documents are held
WHAT NOT TO INCLUDE IN IT
Passwords, in plain form.
WHAT TO USE INSTEAD
A password manager, with access arranged for a trusted person.
WHAT TO REVIEW ANNUALLY
That the list is current and backups work.
WHAT TO DO ABOUT TAX CLEARANCE
Obtain it annually as routine.
WHY
It is required when you least expect it, and it cannot be obtained quickly.
