Call (888) 786-7243On Saturday, I wrote about the obligations of businesspeople to protect the privacy of their clients and customers, by keeping records that contain personal or private information safe and secure, by returning those records to the client or customer, or by disposing of the records safely by shredding them prior to disposal or recycling. On Sunday, I added some guidelines for individuals, urging you all to apply an equal standard of care to your own documents, rather than simply tossing them in a dumpster where anyone can find them.
Today, though, I want to talk about how to secure documents that you need to hold for a period of time, such as tax returns, which the Better Business Bureau says that you should keep for up to eight years, along with all the supporting documents that go with those returns, and medical records, many of which you may well want to keep for a lifetime. In addition, you will want to take care of certain documents that you may never have to show to anyone, but that have some sentimental value, such as school diplomas and certificates, letters and correspondence, and children’s artwork and drawings. All such documents can benefit from proper storage. When not properly stored, documents are prone to becoming yellow and brittle with age.
First of all, when you are storing legal and financial documents, check with your lawyer and accountant to find out what your legal obligations are with regard to those documents. Specifically, find out how long they should be stored and what your obligations are. You may want to make digital copies of your archives and files before you put them into storage, just in case. If so, you’ll want to be certain to password-protect your digital files, in addition to putting your hard copies into a safe, secure facility such as a self storage unit.
Secondly, consider the storage conditions of the location where you plan to keep your records. A climate-controlled storage facility is almost always your best choice, especially for documents that you intend to store for a lifetime, such as letters and journals that have a lot of sentimental value or that are important in your family. The same is true for family photos. Wet, humid air can cause documents to become damp and moldy, while dry air can cause them to turn yellow and become brittle or curl. A climate-controlled facility will help you to avoid both those scenarios.
Once you have chosen a secure, climate-controlled location, you will want to turn your attention to the containers in which you plan to store your archives. If the documents in question are just your tax returns, and you plan to toss them out after eight years, protecting them from turning yellow may not be so critical. In the case of financial documents, you may be more concerned with security than with storage conditions. Be sure to label your files clearly so that you can find whatever you need later, and, if possible use locked file cabinets or fire safes for your most sensitive documents.
On the other hand, if you are storing old, historical family papers or other delicate documents, you will want to pay some attention to your overall storage conditions. Fragile documents should be stored in acid-free containers to protect them and slow down the aging process. Documents that are particularly delicate may need to have acid-free sheets between pages, or may be better off stored in plastic sleeves.
Whether you plan to store your archived records, or sentimental papers and photos, you should use airtight packaging whenever possible, and place boxes on pallets to lift them up off the floor. Cover boxes with a tarp to keep dust out.
There — now, if the IRS does audit you, you will be prepared to provide them with a set of meticulously maintained records — and if, on the other hand, the next person to look at your documents is your grandchild, the documents will be well preserved and will not fall apart the moment they are taken out of storage. With luck, your documents will not face any dangers or hazards until the day you take them out of storage again.