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Subject: Re: Retention Schedules
From: "Yanaway, Dana E." <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Tue, 14 Oct 2003 12:24:42 -0400

text/plain (143 lines)

I think 10 years is fairly universal (to the extent anything is
universal in this area). There will obviously need to be adjustments
based on the practice area. If a Trust involves minors you would want to
wait till they have reached the age of majority before starting the
clock. Business deals or bond issues and the like which have
requirements into the future would require retention beyond the end of
the deal and whatever statute of limitations might exist.

Other items to think about, are what part of the client file needs to be
retained for what period of time. Drafts, memos & notes could perhaps be
destroyed shortly after the close of a deal, whereas the closing binders
or executed agreements might be kept for a longer period of time.

The ARMA conference ISG Pre-Conference event Friday & Saturday 10/17 &
10/18 appears to cover some of this issue for legal records managers & I
am looking forward to getting more info on this topic myself there.

-----Original Message-----
From: Gary L. Grieme [mailto:[log in to unmask]]
Sent: Tuesday, October 14, 2003 12:11 PM
To: [log in to unmask]
Subject: Re: Retention Schedules

>>>>  Please read the confidentiality statement below  <<<<

Scott, we assign a 10-year retention period to most of our files.  We
wanted to be on the conservative side, and we wanted a system that
generally worked for all of our regional offices.  As Steve implied,
there are numerous exceptions for numerous reasons.

Gary L. Grieme
Records Manager
Robins, Kaplan, Miller & Ciresi L.L.P.
Minneapolis, MN
[log in to unmask]

>>> [log in to unmask] 10/14/2003 10:58:21 AM >>>
I realize that and we are starting work on one, but I really just needed
ballpark answer regarding how long to hold onto a Law Firm's legal
files (Estate files, tax cert, real estate, etc.). If there isn't one,
isn't one. Like I said, I've heard 7 years. Is there a basis or back-up
this? The problem is, this attorney needs an answer today, not in six
after I do research, attend school and set up a policy.

If I cannot get him an answer today, then I can tell him that and why.



-----Original Message-----
From: Steven Whitaker [mailto:[log in to unmask]]
Sent: Tuesday, October 14, 2003 11:49 AM
To: [log in to unmask]
Subject: Re: Retention Schedules

Misconceptions; Deuteronomy... etc.

There are a myriad of federal and state regulations governing the
of information; it varies by industry.   Sounds as though your firm
needs to
organize a retention policy program.

Best regards, Steve
Steven D. Whitaker, CRM
Records Systems Manager; City of Reno

>>> [log in to unmask] 10/14/03 08:00AM >>>
An attorney in my firm asked what the rules are for retaining legal
in NYS. The figures that popped into my head were 7 years for most
stuff, 10
for accounting / billing records. Is there some place I can find this
the correct limits if I am wrong) and print it out? He needs to see it

Thanks much.


Scott McIntyre
Assistant Records Manager
Farrell Fritz, P.C.
EAB Plaza
Uniondale, NY  11556
(631) 227-0600 x268

PLEASE TAKE NOTICE:  The information transmitted is intended only for
person or entity to which it is addressed and may contain confidential
and/or privileged material.  Any review, retransmission, dissemination
other use of, or taking of any action in reliance upon, this information
persons or entities other than the intended recipient is prohibited.  If
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