Practical Considerations
Brokerage Firms: Remove the deceased’s name from stocks, portfolios, etc.
Once you have prepared the final arrangements for the deceased and made the immediate decisions that follow the death of a loved one, there are a number of institutions that need to be notified. In most, but not all cases you will need information and documents to either file claims or to reconcile accounts. Remember that everything does not need to be done immediately; pace yourself through this process or ask a friend or family member to help you with some of these details. Some people prepare a comprehensive list of accounts and assets that makes this process easier. Be sure to check for this at the deceased’s home, in their safety deposit box, or in their computer. In the absence of that, you may want to monitor the mail as quarterly or annual statements can alert you to previously unknown accounts. Please note, these are recommendations and not intended to be completely applicable to every situation. Please check with experts, such as financial advisors or lawyers, to determine what is and isn’t pertinent to you. You will want to have at your disposal the following information about the decedent: • Full legal name • Address • Social Security Number • Certified Death Certificate
Retirement Funds: Apply for benefits that may be due to you.
Insurance Automobile: Stop coverage or remove deceased’s name as a policy holder. Health: Stop coverage. If the decedent was receiving state insurance benefits, the state must be notified following the death. Homeowner’s: Make sure there is sufficient coverage and transfer into the name of the survivor. Life: Locate the policy and find out what documents are needed to have a check issued. If you can’t locate the policy, but suspect one is in existence, contact the American Council of Life Insurance, Policy Search, 1000 Pennsylvania Ave, N.W. Washington, DC 20004. Property Deeds andTitles Real Property: Remove deceased’s name from the deed.This can be done at the county seat where the property is located. Automobiles: Change the title to the survivor’s name.This can be done at the Department of MotorVehicles office.Vehicle loan(s) needs to be paid off before a transfer of title can be made. Social Security (800-772-1213; www.ssa.gov): You may not need to do this if you purchased a funeral that includes notification as part of the package. If the decedent was collecting Social Security checks, the Social SecurityAdministration will cease to issue checks upon the death. Benefits may include payment to a surviving spouse and children. Tax Institutions: The decedent’s final state tax return needs to be filed. IRS:The decedent’s final federal tax return needs to be filed. VeteransAffairs (800-827-1000; www.va.gov): To process a claim or to gain information call the above toll-free nationwide number.
Consider notifying the following institutions by letter:
Financial Institutions Banks: Remove the deceased’s name from accounts.
Credit Card Companies: Find out if credit card insurance has been purchased. If so, the balance may be paid off. Destroy decedent’s credit cards, close joint accounts and reopen in one name only.The credit bureau can assist you in transferring a spouse’s credit into the surviving spouse’s name and in determining outstanding obligations of the deceased.
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The Elizabeth Hospice
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The Elizabeth Hospice
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