When a loved one passes, on top of processing the emotions that come with the loss, the people closest to the person have practical things that must get done. While all are important, some of those things are more time sensitive than others. We have compiled a list to help those who have lost a loved one know what to do and when.
Part 1: Immediate actions needed
1) If the death occurs outside of a hospital or nursing home, get a legal pronouncement/declaration of death.
2) Inform family and close friends of the death.
3) Find out whether the person made any prearranged funeral and burial plans. If none exists, make a plan with the family of the deceased.
Part 2: High priority (but not urgent) actions needed
4) Write an obituary; if you have a friend or relative with a talent for writing, don’t hesitate to ask for help with this.
5) Notify the Social Security Administration (SSA) of the death if the deceased was receiving Social Security benefits. (In many cases, the funeral home will do this for you.) If Social Security makes an overpayment after the person passes, it will expect a prompt repayment.
6) Find the deceased’s Will or Trust (if one exists) and the executor of the Will (or Trustee of the Trust).
7) If the deceased was working, contact their employer so they can handle payroll matters and make internal adjustments to cover the person’s work responsibilities.
8) If you are the named Executor, or if there is no Will and you wish to be the person to handle the person’s final affairs, meet with an estate planning attorney to help sort out the deceased’s legal matters.
Just having a signed copy of the Will is not sufficient to collect and distribute a person’s assets; in Indiana, a Will does not go into effect until it has been approved by a Judge. This may involve opening an estate (a/k/a probate) or it may constitute a much simpler process called spreading the Will of record, which is different. In the past, if a person died with $50,000 or more in probate assets, a formal estate had to be opened. In June of 2022, that threshold went up to $100,000.
9) Obtain certified copies of the death certificate from the health department in which the person died. You will typically need up to ten copies of the death certificate to close bank and brokerage accounts, file insurance claims and register the death with government agencies, among other things. It is normal for it to take several business days, or even a few weeks, for the health department to prepare death certificates.
You do not need to wait for a death certificate before you make an appointment with an attorney.
10) If you are the Executor or administrator, compile a list of the deceased’s assets. This can be an informal list that your attorney will formalize into an estate inventory if needed. Good ways to track down assets are to review the deceased’s tax returns, mail, email, deeds and titles.
11) If you are the Executor or administrator, ascertain whether the deceased had any debts that the deceased owed. Your attorney can advise you about the payment of debts, funeral bills, and any related bills.
12) Cancel services that are no longer required for the deceased, such as subscriptions.
13) Request payout forms for any insurance policies for the deceased.
Part 3: Important but not urgent
14) Prepare and file income tax returns for the tax year in which the deceased died and any returns for prior years if needed. You can contact a CPA (accountant) for help with this task. If a formal estate is opened, you may also need to file tax returns for the estate itself, though in many cases no taxes are owed.
15) Close email and other accounts for the deceased to prevent identity theft and fraud.
Part 4: Bonus tips for an Executor
Keep a record of any business you engage in on behalf of the deceased (including time spent and any expenses that you cover personally). Do not try to rely on your memory alone. Sometimes Executors do not plan to take a fee at the beginning but change their mind along the way; if you decide to take a fee, you would need records of what you did in case beneficiaries or the Court has a question.
Keep the activities that you engage in on behalf of the deceased private.
Always contact an attorney if you are not sure how to proceed with any matters relating to the deceased person’s affairs.
Certain points in this post were originally published from the following article: https://www.aarp.org/home-family/friends-family/info-2020/when-loved-one-dies-checklist.html