Checklist: What Documents Do I Need to Keep on File?

Are you confused as to what documents to keep in your files? Records relating to tax and legal matters, healthcare issues, assets and liabilities, as well as other important transactions should be kept in case they are needed in the future.

In this checklist, we cover a number of documents that you need to consider keeping in case you encounter any number of issues, including:

• • Various tax documents, including past tax returns as well as documents related to specific transactions, such as annual gifts made to children, relatives, or others.
  • Healthcare records, including those relating to Medicare eligibility, substantiating medical deductions on prior tax returns, and confirming any contributions to, and distributions from, a health savings account (HSA).
  • Various legal documents, including proof of your citizenship or military service, estate planning instruments (e.g., Will, Trust, and Powers of Attorney), and records surrounding your marriage or divorce.
  • Documentation regarding certain assets owned and debts incurred, including statements and disclosures for investment accounts and employer-sponsored retirement accounts, business records (e.g., the company EIN and documents of formation and operation), student loan and mortgage statements, and titles to automobiles and real estate, among others.
  • Other types of documents such as copies of any insurance policies and relevant paperwork, employment contracts, and proof of professional certifications that you may hold.

View Checklist: What Documents Should I Keep on File?

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Searcy Financial Services, Inc.

The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.

Published for the blog on April 27, 2022 by Searcy Financial Services, your Overland Park, Kansas Fee-Only Financial Planner and Investment Manager.