How to handle a loved one’s estate after they pass away

Steps to take when settling an estate after death

Losing a loved one is one of the most difficult experiences we can go through in life. It’s a time filled with sadness, confusion, and grief. And while dealing with the emotional fallout of a loved one’s passing can be challenging enough, there’s also the matter of their estate to consider. 

Handling a loved one’s estate after they pass away can be overwhelming, but it’s an important task that must be completed. In this blog post, we’ll take a closer look at how to settle an estate after death, step by step. 

Step 1:  Telephone a friend so you are not alone.

If you are alone, telephone a friend who can spend the next few hours with you.   Shock and trauma can take unexpected forms.

Step 2:  Contact friends and family.

Contact by phone and notify the immediate family, close friends, business colleagues and employer.  If you are able to access the contacts in the decedent’s phone, that will give you access to their contacts.

Step 3:  Order Death Certificate.

Request several copies of the decedent’s death certificate, (10 are recommended) which you’ll need for his or her employer, life insurance companies, and Financial Institutions, etc. 

Step 4:  Change mailing address and forward calls.

If you do not reside with the decedent, change the decedent’s mailing address with the local postmaster so you can receive the decedent’s mail.  Forward the decedent’s phone calls to your phone so you can inform callers of the death.

Step 5:  Keep track of expenses.

Record in a small ledger all money you or the immediate family spends. These figures may be needed for tax returns or the probate court.

Step 6:  Avoid entering into contracts.

Remember that you are in a highly emotional state. Avoid entering contracts for anything, and avoid spending or lending large sums of money.  

Step 7:  Locate important documents such as wills, living trusts, powers of attorney, insurance policies, bank/investment accounts, and final wishes such as burial or cremation.

The next step in settling an estate is to locate important documents that are related to the deceased person’s finances, property, and final wishes. These documents typically include wills or living trusts, powers of attorney, insurance policies, and records from bank/investment accounts.

It is important to find these documents as they will guide on how the estate should be handled and distributed. In some cases, the executor of a will may need to contact various banks, insurance companies, and other financial institutions to gain access to these documents. Once all of these documents have been located, it is important to review them carefully to ensure that all details are accounted for when settling the estate.

Step 8: Contact banks or financial institutions to initiate the transfer of assets, the executor of the will, and any government agencies, financial institutions, or insurance companies.

It is also important to contact any government agencies, financial institutions, or insurance companies that may be involved.

By contacting these parties early and providing them with relevant information, it will help to ensure that the process of settling an estate goes smoothly and quickly.

The third step in settling an estate is to contact banks or financial institutions to initiate the transfer of assets. This process can be complicated and involve the completion of many forms and documents. The executor of a will needs to understand what needs to be done in order to complete this part of the estate settlement process.

In most cases, it is necessary for the executor to provide certain identifying information as well as legal documents that prove their authority such as a power of attorney or a court-issued grant of probate. By taking these steps, it is possible to make sure that all assets left by the deceased are transferred into the right hands.

Step 9:  Ensure payment of outstanding bills and arrange for payment of regular living expenses (mortgage, rent payments).

The next step in settling an estate is to ensure that any outstanding bills or regular living expenses such as mortgage and rent payments are taken care of. To do this, the executor of a will must review all documents related to debts and financial obligations left behind by the deceased. These papers may include credit card statements, utility bills, medical bills, invoices for services, loan agreements, and other similar documents. Once these have been reviewed, it is important to contact creditors in order to arrange payment of the debts or make arrangements for regular payments from the estate.

Step 10: Stay updated on any required taxes or fees for filing the decedent’s estate taxes with local government agencies; consult a tax professional if needed.

The next step in settling an estate is to stay updated on any required taxes or fees related to filing the decedent’s estate taxes with government agencies. The executor of a will needs to understand their legal obligations and make sure that all taxes owed by the deceased are taken care of on time.

Depending on the complexity of the estate, it may be necessary to consult a tax professional who can provide advice and assistance with filing these documents correctly. Most local governments have online resources available to assist in this process, but it may still be necessary to seek professional help if there are issues that cannot easily be resolved. Filing these documents properly and paying any applicable taxes is essential for ensuring that the estate can be officially closed.

Step 11: Take care of funeral arrangements if necessary by gathering all necessary paperwork (birth certificates, death certificates) and consulting with funeral directors to decide on appropriate services.

The next step in settling an estate is to take care of funeral arrangements if necessary. This can include gathering all necessary paperwork such as birth certificates and death certificates, as well as consulting with funeral directors to decide on appropriate services and merchandise. The executor of a will needs to understand the financial obligations associated with end-of-life arrangements and make sure that any paperwork or payments are taken care of promptly.

Funeral directors can help provide guidance and advice on arranging a ceremony or memorial service that fits within the budget provided by the estate. They can also provide information about available services and merchandise, so it is important to consult with them before making any decisions.

Step 12: Gather personal items including jewelry and photographs that may carry sentimental value for whoever inherits them.

The next step in settling an estate is to gather personal items, such as jewelry and photographs, that may carry sentimental value for whoever inherits them. These items can be important reminders of the deceased and often have significant financial or emotional value. The executor of a will needs to locate these items as soon as possible and make sure they are properly stored in secure places. If needed, it can also be beneficial to research their insurance coverage so they are protected if something were to happen to them while in transit or storage. These items must be respected and handled with care, as they can be very special keepsakes for those who inherit them.

Step 13:  Social Security or Military benefits.

Notify the Social Security Administration of the death.  If the decedent was ever in the service, notify the Veterans’ Administration.  You may be eligible for death or disability benefits.

Step 14: Distribute the assets

After all debts and taxes are paid, it’s time to distribute the estate. Determine who the beneficiaries are and what they’re entitled to. Then, distribute the assets according to the will or state law. If you’re unsure how to do this, consider hiring an estate attorney to help you through the process.

Step 15: Finalize the estate

Finally, it’s time to finalize the estate. Obtain receipts and releases from beneficiaries, close out bank accounts and cancel credit cards, and file the final tax return for the estate.

Dealing with a loved one’s estate after they pass away can be challenging, but it’s an important task that must be completed. By following these steps, you can ensure that everything is handled properly and that your loved one’s legacy is honored. Hopefully, your loved one has provided a will or has a living trust, as well as an estate plan, to help guide you. 

If you’re feeling overwhelmed or unsure about any of the steps involved, don’t hesitate to seek professional help. There are many resources available to help you through this difficult time.  Laguna Legal is always here to help.  Contact our office to assist you with documents such as Affidavit of Death, Deed, Probate or Small Estate Affidavit.  Laguna Legal has been helping our clients with their legal documents for over 24 years.  At Laguna Legal, we specialize in making the process of creating legal documents simple, smooth, and affordable.