Settling The Estate Of A Deceased Loved One

The time after the death of a parent, spouse orwill also need a copy of the investigative report to
other family member can be filled with intensebe eligible for additional accidental death benefits.
emotions of grief. With the stress of planning aCheck the fine print of the policy to see if this
funeral and memorial service, it can be easy tosort of coverage was provided. 3. Closing bank
lose track of the business of wrapping upaccounts: Any existing checking and savings
personal affairs and settling a deceased lovedaccounts will remain open and any applicable fees
one's estate. This article outlines some tips to helpwill continue to be charged as long as there is
get through this difficult time and ensure that themoney in them-unless you formally close the bank
surviving family members are prepared to handleaccounts. You will need to bring in a certified
any future legal and business issues, quickly anddeath certificate and fill out a Death Notification
efficiently. Uncover any last requests: If you'reForm as supplied by the bank to officially close
lucky, your loved one will have left a detailed,the account and withdraw or transfer any
legally certified will outlining burial requirements andremaining funds. If the account was a joint
distribution of assets. Check with the deceased'saccount with your name on it, the death notice is
lawyer if you're unsure whether a will exists. If itmore of a formality to make the bank aware
doesn't, talk with family members to see if anythat no more deposits will come in under the
last wishes were mentioned. Set up a financialdeceased's name beyond any related insurance
plan: Even the most generous of insurance policiessettlements. 4. Transferring retirement benefits: If
and estate settlements are unlikely to lastyou are named as a primary beneficiary on a
forever, so meet with a financial planner to set up401(k), individual retirement account or company
a long-term budget and discuss restructuring anyretirement plan, supply a certified death certificate
investments to satisfy your financial goals. Getto roll the benefits over to a retirement account
several copies of the death certificate: You shouldin your name. If you decide to withdraw the
get a copy of the death certificate formoney and place it into a checking or savings
documentation purposes. There will be severalaccount, be aware that you may face a
instances in the coming days and weeks in whichsignificant tax penalty. The days and weeks
having a copy of the death certificate will befollowing the death of a loved one can be very
required. Ensure you have more than one copy ofstressful. Settling an estate requires the
the death record; various institutions will requiresubmission of paperwork to each individual
such documentation for settling an estate andinstitution where an account is held by the
you'll find maintaining additional copies will help youdeceased. You'll also need to provide paperwork
speed up paperwork. Below are four exampleswhen requesting a death-related service or
when providing a death certificate is required: 1.benefit. Part of the paperwork requires providing
Transporting the body: In most states, the funeraldocumentation of the death. Death record policies
director will need a copy of the death certificatevary, so be prepared to provide an official
to legally transport the body to the funeral homecertified death certificate copy available by mail or
and will file the death certificate with thein person from the state or county vital records
courthouse for legal proof of death. The funeralagency where the death occurred.
director will also need a copy of the death recordGovernment-certified copies of a death certificate
to apply with the health department for a burialcan also be obtained on an expedited basis
transit permit. 2. Claiming a life insurance policy: Ifthrough authorized online service providers such
your loved one had life insurance, the lifeas Since multiple copies are generally required, you
insurance company will require an official certifiedshould determine the number of certificates you
death certificate as proof of death when awill need before you place your order and avoid
primary or secondary beneficiary submits a claim.having to duplicate your order or pay separate
Generally speaking, a secondary beneficiary is onlyorder processing fees.
allowed to make a claim if the person listed asMarty Morgan is an advocate for the vital record
the primary beneficiary has also died. In eitherindustry with an interest birth certificate, death
situation, photocopies are considered unacceptable.certificate, marriage record and divorce record
If the death was found not to be from naturalpublic record searches.
causes (such as an accident or a homicide), you