Losing a loved one can be overwhelming especially the first couple of weeks after your loved one passes away; it is important to keep in mind that there are several practical and legal considerations that should be addressed in the initial weeks following a death. Here is a list of some important initial steps:
- Obtain ten to fifteen original certified death certificates. Generally, you order these through the funeral director. A death certificate is often required to claim life insurance benefits, close bank accounts, transfer titles, and take care of other matters connected to your loved one’s estate.
- Ascertain the immediate needs of obligations and expenses that must soon be paid. Determine where your loved one banks and what the monthly expenses are. The last thing you want is for an item to be repossessed or the electricity turned off due to non-payment.
- Arrange care for animals. If there are pets, you should arrange care for them. Your loved one’s will, or trust, may name the person your family member has chosen to care for them.
- Inspect your loved one’s home to make sure it is secure. Make sure any points of entry are locked and that there are no maintenance issues that need to be addressed.
- Change the locks. This is important to ensure that no one prematurely removes any property from the home, even if they are well-intentioned.
- Remove valuables from the home and store them in a secure place. Jewelry, cash, works of art, furs, and other especially valuable property should be kept in a safe place until the estate is administered.
- Secure vehicles. Cars should be locked. No one should drive a car. Insurance on the car should be maintained.
- Contact agencies to cancel benefits. Notify Social Security, the Veterans Administration, and any other relevant agency of the death.
- Cancel subscriptions and monthly service agreements. Cancel the newspaper, magazines, or other regular subscriptions or monthly services.
- Cancel credit cards and charge accounts. Notify credit card companies of the death.
- Locate insurance policies. Confirm that there is coverage on the home. Locate life insurance policies.
- Gather personal records. Locate bank statements, checkbooks, and at least the past three years of income tax returns.
- Once your loved one has passed away, anyone authorized by a power of attorney to act on his or her behalf is no longer valid. Therefore, that person should stop acting under the power of attorney after the individual has died. The executor of the will or trustee of the trust is now the proper person to handle those matters.
- Meet with an estate planning attorney to determine if probate is going to be required. If your loved one had assets just in his or her name, with no beneficiaries named, that asset must be handled through the probate process. The asset cannot be distributed to anyone without involvement by the probate court.
- Do not prematurely distribute any of your loved one’s property or funds. All debts and taxes must be paid before transferring any funds or property to the beneficiaries.
Although you can take care of many of these initial concerns on your own, the administration of your loved one’s estate or trust can be quite complex. Even small mistakes could end up being a major headache. It is important to contact an experienced estate planning attorney to help you with this process during this difficult and emotional time. Our goal is to provide you with peace of mind by guiding you through the administration and settlement of your family member’s trust or estate.