Last February I made the final push and finished going through every piece of paper in my house that was my responsibility and here's what I learned.
Much of it was mundane - especially my mother's 15 plus years of bank statements, all in their envelopes. I had to take each statement out, remove checks and copies of checks to shred and tear up the rest. These filled several garbage bags. Please don't keep these things. Especially the envelopes.
Some papers are far from mundane and can be harder to go through. Some mark nodal points in our lives - births, graduations and other achievements, marriages, work contracts, divorces and deaths plus anything involving the legal or insurance systems - the fire we had in 2016, the accident I had back in 2017 that took forever to resolve.