Length of Time to keep docs

Discussion in 'Wills, inheritances and gifts' started by ExecExec, 7 Oct 2018.

  1. ExecExec

    ExecExec Registered User

    I have numerous boxes of documents relating to tax and financial affairs of the deceased going back several years. Is there a length of time documents should be kept for i.e.

    Can I dispose of any that are X number of years old.
  2. Sophrosyne

    Sophrosyne Frequent Poster

    This was discussed here.
  3. ExecExec

    ExecExec Registered User

    Thank You Sophrosyne - I've had a look at that, but that link refers really to the normal rules for those still living i.e. 7 years for record keeping. My query in this forum is in relation to deceased. Im an exec. and wondering how far back records need to be kept.

    Any other thoughts welcome.
  4. noproblem

    noproblem Frequent Poster

    For those who were advised by the banking fraternity to invest in Non Resident Accounts some years ago revenue went back as far as was possible (Bank records, etc) with the people involved to trace where the money came from.
  5. ExecExec

    ExecExec Registered User

    Thank you Noproblem,

    This is a very straight forward situation in terms of accounts and tax returns i.e. no off offshore or businesses worth 15m etc.

    Thanks again for the responses.
    noproblem likes this.
  6. DirectDevil

    DirectDevil Frequent Poster

    I'm afraid that I tend to be a bit of a magpie where deceased relatives affairs are concerned in my capacity as an executor.

    Apart from tax affairs, if things happened of which you were previously unaware you could have people coming at you some years after death. (I am not talking about time limits for commencing proceeding against an estate after death.)
    I certainly found retention of old documents very handy when a little problem surfaced and I was able to sort it rapidly as I had the paperwork to exhibit.

    Therefore, I would keep copies or originals of relevant paperwork in archive type boxes and keep them in the attic. Sod's Law says that as soon as you dispose of something you will need it next month when a problem surfaces :rolleyes:.
    so-crates, Annie51 and T McGibney like this.
  7. T McGibney

    T McGibney Frequent Poster


    I advise my customers to retain records indefinitely, for this precise reason. I've seen cases where the destruction of even old photos with zero sentimental value has later haunted people when these and other items were needed later as evidence when a totally unexpected dispute later arose.
    so-crates likes this.
  8. PMU

    PMU Frequent Poster

    It would be prudent to retain forever records, whether with public or private sector bodies, that relate to 'life events', e.g. http://www.citizensinformation.ie/en/lifeevents/. Some examples from the Revenue Commissioners https://www.revenue.ie/en/life-events-and-personal-circumstances/index.aspx and a good list from the Pensions Authority https://www.pensionsauthority.ie/en/LifeCycle/Important_life_events/. Documentation relating to certain events, e.g. asset acquisition, property purchase, planning permission, etc. may be required by executors, descendants, etc.
    T McGibney likes this.
  9. ExecExec

    ExecExec Registered User

    Thanks everyone. Typical - I don't have an attic.
    T McGibney likes this.
  10. Vanessa

    Vanessa Frequent Poster

    I know it is a bloody nuisance but I keep everything going back 30 years to my father in laws death and will. Since then I have at least on three occasions had need to source documents to solve disputes. The solution was always to the benefit of the family member I was assisting. I have no doubt the legal profession would have made a pretty penny out of the cases if I hadnt the documents.
    I find the big hard plastic storage boxes available in placez like Home Store ideal. Just pack them up and leave a note on top saying what documents are there
    tallpaul and T McGibney like this.