File Retention Options for Legal Documents

Businesses are not alone in the struggle to maintain legal documents. Individuals need to retain their documents for a certain length of time to ensure that they are properly covered for any future legal or government issues. Storing these files and being able to produce these files is a problem that plaques not only individuals but also businesses. I am wanting to share some tips to help you deal with this issue from a technology stand point.

The first step is understanding what you must keep, for how long, and in what format. Most things can be transferred to an electronic format of some sort, and this is a huge benefit to most of us. I found an article written by Alice Magos on the Business Owner's Toolkit website that details information about file retention length. This link will take you to the article mentioned This is a great article and starting place to understanding the types of documents that you need to retain and for how long. Although this article was geared towards businesses, one can find a lot of overlap with individuals. If you are like me after looking at this list you feel that you had better go out and rent a storage unit the size of the Empire States Building; there is some hope along with some obstacles.

When taking on a task such as this one, what comes to mind to me is how I can use technology to ultimately simplify what I need to do. However, there are times when technology gets in the way. When it comes to document retention technology can help to reduce your overall file storage footprint by allowing you to store a majority of your documents electronically. By saving them electronically you can reduce the number of large boxes needed store the paper copies of items.

The format in which you save your documents is something to be considered before you being your conversion to electronic format. Here is what I would suggest. If you have the file in some sort of electronic, format, for example, a Word Document. I would keep the original Word document, but also create a PDF file. A PDF file is universal and will most likely have a longer lifespan that the word document that you have. The reasoning on this is that newer versions of Adobe Acrobat can open any version of a PDF file. However not all word documents can be opened by the latest Word version. With that said, you have to think about how long you will need that file or document. If the time frame is about 7 years or less, then you might be able to open the old Word doc. My rule of thumb is if the file is older than 5 year, I want a PDF of the file.

Some of you are saying, "But how do I create a PDF file?" Well there are a number of programs that will create a PDF file for you. These software items do cost some money, but they pay for them selves in the long run very quickly. So just search for PDF file creation in your web browser and you will find a number of programs that you can use.

This still does not deal with the files that I received in paper format. A good example is your monthly bank statement. If you are like any other average family where you have your bank account and you have a joint account and your spouse or significant other have their account, keeping documents on three account for seven years can add up, not to mention be a bear to locate anything. These items are perfect for the digitalization process. Even the bank will accept a PDF of a bank statement.

The solution is to either use a document scanner (range from $130 and up) or use a network copier machine that will create an automatic PDF file. The copier units that are networkable are very nice for this type of work as they have a tray so you can scan in about 50 to 100 pages at a single time. They also can double as a laser printer, so you can get some multi-function from the unit. The medium sized units can handle legal sized documents.

Now that you have your files in an electronic format, one needs to consider what media to store on. If you are like me, you have a ton of old floppy disks from the "good ole days" when we all saved our files on floppies as a backup. Nevertheless, I am also sure that you remember the reliability of trying to access that file right when it was critical. The error message on the screen reminded you that keeping your files for any length of time on that floppy disk was not a good idea. Especially when you saw the message, "insert media", and panic overwhelmed you. Well looking at the future we need to be considering what will be safe and still around. For Myself I like CD-Rom and DVD-Rom's. Notice that I did not say RW's. The problem with RW's is that often the disk is formatted so that it can only be read by the computer the created the CD or DVD. Therefore, you create the CD today and in seven years and 3 computers later you go to look at the CD only to find that you cannot read anything on the disk. CDROM's and DVD-ROMS are better as they make the disks universal for any computer.

Another good thing about CDROM and DVD ROMS is that although we do not know where everything is headed in terms of file storage, etc in the next 10 years, there is a better chance that the CD/DVD will be around long enough to at the very least transfer your carefully saved file to what ever format that is being used at that time. On a different not, I do not like storing items long term on my thumb or jump drive. I have several reasons for this. First, if they encounter magnets, etc they can be damaged. Second, they are smaller and easier to lose. I really do think they are great for moving files, etc. But for short-term projects. Long term I look for other strategies.

I can hear the argument now..."But if I use all this technology to save my files, how is technology really helping me?" This is a valid question. In addition, here is your answer. For starters saving your docs electronically saves you space by allowing you to get rid of all those boxes of receipts, etc. Second, when you go to look for some of that precious information you can easily find it by doing a search of the CD or DVD. Today's search functions even allow you to search text within a PDF file. So let say that you need to find a receipt for your trip to the dealership, you can put your DVD into your computer and search for the name of the dealership within all files. In a few minutes, you are presented with the PDF file that contains the receipt. How cool is that? Try finding that receipt from the boxes that are in your basement. Your first hope is that the boxes are still dry, second that you can find the right box, and finally that things are organized within that box. Insomuch time of back breaking work of moving boxes around you might find that receipt.