1. Grieving and Family is a Priority. It is natural to feel a sense of urgency in handling a loved one’s financial affairs; however, in most cases such matters can wait. We highly recommend you do not rush into making changes or worry about the decedent’s financial affairs in the days following his or her passing. You will need time to properly grieve. Contacting clergy is often a tremendous source of comfort and, if appropriate, close friends, business colleagues and the decedent’s employer. At this time you may want to arrange for the care of members of the immediate family, including children and the elderly.

2. Burial or Other Wishes. Whether or not you are aware of the decedent’s wishes regarding his or her burial or cremation, we highly recommend consulting any written estate planning documents. Depending upon your relationship with the decedent, it may be advisable to also discuss the plans with other family members before taking action or signing contracts. Determine if he or she had pre-paid a funeral or burial. Then contact a funeral director and make the necessary arrangements.

3. Death Certificates. The funeral home will obtain the decedent’s death certificate. You should obtain multiple certified copies, generally one for each separate financial account, life insurance policy, and parcel of real estate. Regular photocopies of the death certificate are often not accepted by financial institutions and others. There is a nominal fee for each certificate.

4. Review Estate Planning Documents. You will need to obtain and review the decedent’s Last Will or Trust to determine who has been nominated to handle the financial affairs (the "executor" or "trustee"). Confirm you have the most recent documentation, and that you have the originals.

5. Personal Residence and Automobile. You should make sure the decedent’s personal residence and motor vehicle are secure, and that all insurances are in place. Make sure the necessary utilities are operating. Ultimately, arrangements will have to be made with the mortgage company, landlord, or leasing company, as well as the insurance carriers, utility companies and other service providers. However, we highly recommend that you do not reach out to any of those parties until you have consulted with a qualified attorney.

6. Personal Property. You should inventory all the tangible personal property. If appropriate, you might take possession of valuable items (jewelry, collectibles, etc.), and photograph the others – sometimes these items are "lost" in the days following the decedent’s death. We generally recommend securing firearms and any other possessions that might pose a danger to others.

7. Financial Information. You will need to gather the following items:

• Any and all recent financial statements;
• Tax returns;
• Life insurance policies;
• Motor vehicle titles and insurance;
• Retirement account statements;
• Business documentation; and
• Deeds for real estate.

8. Taxes. If the Trust or Estate is large, a U.S. Estate Tax Return (Form 706) will be due nine months from the date of death. All Trusts and Estates must file an income tax return (Form 1041). Finally, the decedent’s final income tax return (Form 1040) will have to be filed.

9. Debts. You must identify all of the decedent debts, including his or her mortgage company and credit card statements. You might obtain his or her credit report. At the appropriate time you should cancel any services that you determine are no longer necessary, and dispose of credit cards. Always consult a qualified attorney before taking any such actions. There are time limitations and laws that limit creditor rights.

10. Mail. We recommend you review all incoming mail so any important papers that may arrive in the following days and weeks are available to you. If appropriate, you might also have the mail forwarded directly to your home address.

11. Government & Work Benefits. You should confirm with the Social Security Administration if there are any benefits available (there is a small death benefit). Also verify if there are Medicare reimbursements due. If he or she was a veteran, you might make an inquiry with the Department of Veteran’s Affairs. At the appropriate time, you should also contact his or her employer regarding benefits.

12. Accounting. Make sure you carefully keep track of all the money and time you and other family members personally expend so that proper reimbursement takes place. Keep a copy of the bills in all cases.

When you are ready, you should come in to meet with us. We will assist you in every aspect of administering your loved one’s estate, whether he or she had a Will, Revocable Trust, or no estate planning documents at all.