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GETTING ORGANIZED AT TAX TIME MAY SAVE TIME AND MONEY

 ROCHESTER, N.Y., Jan. 21 /PRNewswire/ -- For many, the approach of April 15 means a mad scramble to gather receipts, bank records and other papers needed to prepare their tax returns.
 This year, why not use tax time as an opportunity to permanently give order to your personal and financial affairs by sorting through what for most people is an avalanche of paper. Jim Brush, vice president-marketing at the Sentry Group suggests setting aside time every week to divide those papers into two piles: items needed for record-keeping, and items you do not need or want. Throw away the second pile immediately.
 It is a tragic fact that fire damages or destroys some 2,000 homes every day in the U.S. Therefore, safely store important papers where they will be easily found and protected from fire -- in a UL-classified fire safe security chest, file or safe. Sentry Group offers a full line of UL-classified storage products, ranging from inexpensive shoebox- sized fire-safe security chests for $38, up to office-style fire-safe files for $499.
 Here are guidelines for some of the most common documents to store in a Sentry fire safe storage container:
 - Birth and death certificates: Indefinitely
 - Contracts: 7 years after contract expires
 - Deeds: Indefinitely
 - Tax records: At least 6 years(A)
 - Bank and credit card records: 6 years
 - Health records: Indefinitely
 - Mortgage, loan papers: 3 years after loan paid off
 - Insurance policies: 4 years from expiration date
 - Home and property inventory
 (purchase dates and serial
 numbers for large items, details
 of family heirlooms, etc.): Indefinitely (update as needed)
 - Marriage certificate, divorce,
 custody, adoption papers: Indefinitely
 - Passport: Indefinitely
 - Stock and bond certificates: 4 years after sold
 - Owner's manuals, warranties: As long as you own the item
 - Wills: Indefinitely
 (A) Some tax forms you must be kept indefinitely, such as Form 2119 for reporting the sale of a home, Form 8606 for non-deductible IRA contributions, and Form 942 for paying Social Security and unemployment insurance for household employees.)
 For those who keep important records, including support information for taxes, on computer diskettes, those files should be protected, as well, by storing important disks in a Sentry fire safe media chest or file.
 Should fire strike, you'll be happy that you took the ounce of prevention.
 -0- 1/21/93
 /CONTACT: Cathy Callegari of Cathy Callegari Public Relations, 914-723-8633, for Sentry Group Inc./


CO: Sentry Group Inc. ST: New York IN: FIN SU:

SM -- NYFFNS5 -- 7188 01/21/93 07:05 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 21, 1993
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