Q: I helped my father sell his condo in 2017 and have been storing the paperwork from when he originally purchased it to when he sold it. I want to shred the papers, but I was wondering if I need to hold on to them for a certain length of time. How long should I keep the paperwork? — Lois

A: Good record-keeping can make a big difference should a problem arise. That said, with the deluge of paperwork that comes with living in the modern world, I certainly understand your desire to get rid of some clutter.

The length of time you are required to hold on to the documents will vary depending on the type of paperwork and where you live. This is further complicated by Murphy’s Law of Decluttering, which states that you will not need something until shortly after you throw it away.

Digitally scanning important papers before you shred them is a great way to reduce clutter, but it can be time-consuming.

Generally, you should keep contracts and other financial documents as long as the statute of limitations for where you live, which would begin when the contract is no longer active.

For example, for your father’s mortgage, which was paid off when he sold his condo in 2017, you should keep the mortgage paperwork for at least five years after it was paid off, which is the statute of limitations in Florida. For a 30-year mortgage loan, the papers should be stored for the full 30 years, or until it is paid off, plus an additional five years.

Of course, if you live in a different state, this period can vary, so check your area.

Financial professionals generally recommend keeping financial records for seven years. However, when dealing with taxes, it is best to check the IRS and state tax collectors’ websites for the specifics. Insurance policies should be kept for several years after they are no longer in force. Documents related to items you own, such as electronics and appliances, should be kept as long as you own the item and can safely be discarded a few months after you recycle it.

Finally, documents such as marriage records, birth and death certificates, wills and trusts, powers of attorney, military records, citizenship records, and the like, should be held indefinitely.

Since even long-expired paperwork can contain sensitive personal information, always make sure to shred or otherwise properly destroy it to safeguard your identity.

Board-certified real estate lawyer Gary Singer writes about industry legal matters and the housing market. To ask him a question, email him at gary@garysingerlaw.com, or go to SunSentinel.com/askpro.