Unfortunately, there are an overwhelming number of individuals who have no idea what to do after someone passes. Settling an estate after someone passes away is an extremely important step of the process. Recently, we experienced a first-hand tragedy with an individual who was unsure of their responsibility in settling an estate of their deceased parent. Regrettably, this individual found themselves begging for coverage after an insurance company declined a claim after a damaging $150,000 house fire because the estate was not settled. We want you to remain protected, which is why we have gathered a checklist so that you can grieve in peace once these tasks are completed:
- If your loved one never set up a will or trust, it is recommend that you hire an attorney to guide you through this process. Since you have technically not been appointed to handle their financial affairs, you may need to request to do so through the probate court.
- It is important that you obtain multiple copies (10-20) of the death certificate. There are a variety of institutions that will need this certification in order to settle financial affairs, including the Social Security Administration, insurance companies, credit bureaus, the deceased’s employer, post office, utility companies, creditors, and credit card companies.
- In order for the process to go smoothly, you will need to collect the following documents: the death certificates, the trust or will, final credit card statements, all insurance policies, final checking and savings account statements, final mortgage statements, past two years’ tax returns, credit report, marriage certificates, birth certificates, and investment account statements.
Contact Perry & Carroll in for all of your insurance needs. If you will be moving into the estate of someone who recently passed, allow us to transfer coverage into your name so that you can be receiving the protection you deserve.