Remember: If the IRS suspects you haven't reported income, it can challenge returns from the past six years. So if you are self-employed or have multiple income sources, hold on to six years of files to be absolutely safe.
I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.
Many people are in the dark when it comes to money, and I'm going to turn on the lights.
I want to be clear here: It does not matter what you say in your will or trust; the beneficiary document attached to your IRA accounts and your life insurance policy overrides what you say elsewhere. If you want to change the beneficiary, you must change the beneficiary document.