DPOA’s, POA’s, Executors and Personal Reps: Retention of records for how long?

My aunt died over 5 years ago and we saved the paperwork until about a month ago and finally shredded it all. She had nothing left was in a nursing home on medicaid and she had received a small inheritance from a friend of hers a couple of years prior. After 2 years the estate probate process was done and any $$ that was owed back to the state medicaid system was paid back. I was so happy when that was all completed. My mom was so stressed out over this as the co executor of the estate. If you can, scan the papers into your computer on on a thumb drive and then "dump" the box of papers on your brother for him to store. Then you have access to the same paperwork he does but none of the storage.

Imho, you would be wise to ask an attorney.

Just tossed all of FIL's papers. It's been 16 years. Dh would have held on to them forever.

I did keep the deeds to some worthless property he had in NM. Also the 'deed' to 2 cemetery plots.

But all the financials--gone. I would have done this at 7 years, but his acct said to hang on to stuff for 10 years.

I would suggest keeping the estate settlement paperwork since it was a legal proceeding until I passed. Since most of the estate/financial planners recommend keeping documents for 7 years, I would feel comfortable shredding anything older than that.

This is a really snarky thought, but would you consider shipping them all to your brother?

Dept of Revenue did an inquiry/ investigation? Whoa! That’s really super unusual. Any idea why your moms estate was selected?

So could suspicious punative Bro. be behind this?
If so, he’s probably mulling over another ill fated attempt to get at you. Guys like this are fricking relentless. I’d keep the 4 boxes another 5 years. Just in case.

if the boxes are really bothering you, maybe condense all into new & cute storage bins (like the ones they sell for dorm room decor).

Rainmom,

I looked this up for you:

"But hold on before you fire up the shredder—experts recommend keeping most estate records for seven to 10 years after the date the estate is finally settled because of the potential for an Internal Revenue Service (IRS) audit or belated claims from creditors and heirs."

I think the average is 5 years. Both your parents have been gone long enough that no one will be coming after them for payment of any kind. In the Probate Process, you had to probably post something in a newspaper saying Probate was being done and any claims need to be forward to the Executor/lawyer. Once Probate was done, the beneficiaries signed off saying they had reviewed the accounting and were not contesting the findings. So, don't really think anyone can come out and make a claim to the estate. Once Probate is closed, thats it. And if they do, oh well. You can't be held responsible.

If someone hasn't come after Mom in 4 years, I think ur safe. By this time a company should have written any debt off. You probably sold her home. The Title Company does a pretty good search so I think your safe there. I only keep utility bills for 2 yrs. Last year and the year I am in.

Make two piles, one being a trash bag. Trash and Keep. If not sure, it goes to the keep file. Shread anything with personal info on it like a SS number. Then sit and go thru the keep file and determine what should be really be kept. I am down to a small banker box of my Moms stuff. She has been gone almost 3 years. I have her Medicaid stuff with proof the lean was paid. I have probate papers and papers from the sale of her house. I had Dads military records but I gave them to my brother. Things like that I always give to a family member who is the family historian.

I think, except for income tax records, its pretty safe to get rid of things now.

There are articles about how long to keep documents if you google the question or have a friend do that for you.

Ask this question of an elder law attorney in your area. Some records should be kept such as IRS and tax records, the requisite time. If you have a basement or an attic keep important records. I would think that after 7 years there would be little problem showing up, but I would ALSO not be the one to tell you that. Ask an attorney. He will tell you what to keep and what to toss. I doubt that papers are what is preventing the closure. Wishing you good luck moving forward. Sounds you did a LOT of good work, and have nothing to regret in that. I was POA and Trustee of Trust for my bro. Just going through the one year's record (he died in May) makes me know there is a lot of redundant stuff; but I am one who doesn't want someone at the door with an question I can't answer. Do understand that were ALL OF THIS wiped out in a fire tomorrow, then when someone did show up you would be saying "Had a fire; lost it all" and likely not a dang thing would come of that.