In the past, we used to sign two original copies of important documents, keeping one at the office and one at home—just in case we lost one. But losing both copies of something like a trust would be a real problem. So, what’s the best solution today?

Lee Phillips Explains How to Use Scanned Documents in Today’s Video

Thanks to updated state laws, a scanned copy of a document is now considered just as valid as the original. That means you no longer need multiple hard copies of a document to ensure its validity. You can scan your important documents and store them digitally, either in the cloud, on a thumb drive, or on your computer.

Why Scanning Documents is Important

When you scan a document, you’re creating a backup that can be easily accessed or shared if needed. For example, if you lose your original trust document, a scanned copy will still be recognized as valid by banks and other institutions. You can even email scanned copies to your kids or other trusted individuals, allowing them to keep a digital version safe for you.

Benefits of Scanning Documents

Digital Storage: Keeping scanned copies in the cloud or on a thumb drive means you have access to your documents anywhere and can share them quickly.
Sharing with Family: By emailing a scanned copy, you essentially give the recipient an “original” version of the document, ensuring they have a valid copy.
Secure Backup: A scanned copy provides a secure backup in case the physical copy is lost or damaged.

Are Scanned Copies of Receipts Valid?

The IRS also recognizes scanned copies of receipts. When traveling or making purchases, you can simply take a picture of your receipt and upload it to your expense tracking app. This allows you to toss the physical copy, knowing the digital version will be accepted for tax purposes.

Conclusion

In today’s digital world, scanning important documents is not only practical but also legally valid. Whether it’s a trust, contract, or receipt, having a scanned copy can save you time and stress while providing easy access and sharing options. So, don’t hesitate to start scanning and storing your documents safely!

join us for an upcoming Master Class on Saturday, November 16th, titled “Generational Wealth with the Right Estate Plan.” Don’t leave your heirs with a mess—learn how to protect your wealth for future generations. Get all the details for this event here.