How Long to Keep Bank Statements and Estate Records After a Death

Clearing someone's papers is one of the quieter, harder jobs after a death. You do not need to keep everything. A single, well-labelled estate file, holding the documents below, is enough to answer HMRC, a beneficiary or a bank if a question comes up years later. Most of the rest can go.

What GOV.UK says you must keep

After you value an estate, GOV.UK says you must keep copies of:¹

• the will;
• signed Inheritance Tax forms and their supporting documents;
• records showing how you worked out the value of the assets, for example an estate agent's valuation;
• documents showing any unused Inheritance Tax threshold that can pass to a surviving spouse or civil partner;
• the final estate accounts.

The final accounts should include documents showing how money, property and belongings were distributed: letters from HMRC confirming Inheritance Tax was paid, receipts for debts and your own expenses, and written confirmation from each beneficiary that they received their share.¹

Bank statements

For each account, keep the statement or bank letter that shows the balance on the date of death, and any later statements covering money moving in and out while you dealt with the estate. These back up the figures in the estate accounts and the probate application. Older routine statements from years before the death, which played no part in valuing the estate, are not usually needed. If you are unsure whether gifts made before the death matter for Inheritance Tax, keep the statements from the 7 years before the death until that question is settled. See Inheritance Tax for executors.

A simple retention guide

Keeping the core file for 20 years also covers the longer periods in which a beneficiary could question how an estate was handled. If anything about the estate was disputed, ask a solicitor before destroying records.

Paper or digital?

Clear scans stored safely are usually fine for your own file, and easier to share with co-executors. Keep originals that have value or may be asked for again: property deeds, share certificates not yet dealt with, and any spare sealed copies of the grant or death certificates.

Shredding safely

Dispose of anything with a name, address, date of birth or account number by shredding, not in the recycling. Fraudsters do use the details of people who have died. Registering the death with the Bereavement Register and telling banks promptly also helps. See who to contact after a death.

Frequently asked questions

How long should I keep a deceased person's bank statements?

Keep the statements that show the balance at the date of death, and any you used to value the estate or prepare the estate accounts, with the rest of the estate file. HMRC can ask to see records used to value an estate up to 20 years after Inheritance Tax is paid, so many executors keep the core file for at least that long.

What records does HMRC say executors must keep?

GOV.UK lists the will, copies of signed Inheritance Tax forms and supporting documents, records showing how assets were valued, documents showing any unused threshold transferred to a spouse or civil partner, and the final estate accounts.

Can I throw away old paperwork once the estate is settled?

Routine papers that played no part in valuing or administering the estate, such as old catalogues, expired guarantees and duplicate letters, can usually go once the estate is settled. Shred anything with personal or account details, because identity fraud using a dead person's details is a real risk.

Do I need to keep paper originals?

Clear scanned copies are usually fine for your own file. Keep originals that have value or may be needed again, such as share certificates not yet dealt with, property deeds and any original grant or death certificates you still hold.