What Do I Need to do When a Loved One Passes?
The loss of a loved one can be overwhelming and complicated, especially because most of us suffer such a loss so infrequently. When you’re grieving, it’s easy to feel overwhelmed in the face of myriad financial tasks. If you separate what needs to be done right away from what can wait for a while, taking care of financial matters will seem more manageable.
The good news is that unless you are concerned about the security of your loved ones assets or personal belongings, or if their real property is not occupied by their spouse or a primary beneficiary, there is nothing urgent to be done in the first two weeks. If either of these issues are a concern, you should call to make an appointment immediately. Otherwise, give yourself the time to grieve and get your mind around this new transition.
During that first month, call to make an appointment with our office. At that first meeting, we will talk you through the process of managing your loved ones affairs. If there’s no will or trust, this office can explain how the estate should be administered according to state law. If your loved one had a will or trust, a person who can legally act for the estate or trust will need to be involved.
It would be helpful to have the following documents at the first meeting so we can be in a position to give you the most accurate advice:
And, remember, you are not alone! We're here to help each step of the way.
The good news is that unless you are concerned about the security of your loved ones assets or personal belongings, or if their real property is not occupied by their spouse or a primary beneficiary, there is nothing urgent to be done in the first two weeks. If either of these issues are a concern, you should call to make an appointment immediately. Otherwise, give yourself the time to grieve and get your mind around this new transition.
During that first month, call to make an appointment with our office. At that first meeting, we will talk you through the process of managing your loved ones affairs. If there’s no will or trust, this office can explain how the estate should be administered according to state law. If your loved one had a will or trust, a person who can legally act for the estate or trust will need to be involved.
It would be helpful to have the following documents at the first meeting so we can be in a position to give you the most accurate advice:
- Copies of the will and trust, if applicable, and the death certificate.
- Insurance policies and contracts, including beneficiary designations.
- Financial statements from banks, brokerages, and investment firms, including beneficiary designations.
- A Social Security benefits statement.
- The most recent federal and state income tax returns.
- Employee benefit and employer contact information.
- A list of assets (cars, art, jewelry, real estate, etc.) and their estimated values
And, remember, you are not alone! We're here to help each step of the way.
