ARTICLE | December 5, 2024

We understand that losing a spouse is an overwhelming experience, and handling the logistics and finances can feel daunting. Therefore, we have created this helpful guide which breaks down what needs to be done into manageable steps:

Immediately After Passing

• Obtain a Legal Pronouncement of Death: Get this from the attending medical professional to start obtaining death certificates.
• Contact a Funeral Home: Make the initial call to the funeral home to handle your spouse’s remains.
• Inform Close Family and Friends: Enlist the help of a trusted person to relay the news to others.
• Check for Any Final Wishes: Review any end-of-life documents or wishes your spouse may have expressed.

Within a Few Days

• Notify the Employer (If Applicable): Notify your spouse’s employer and gather information about benefits.
• Contact the Social Security Administration: This ensures any government benefits are adjusted. This currently cannot be done online, but you can either call 1-800-772-1213 or visit your local social security office to do so.
• Notify Life Insurance Companies: Begin the claim process for life insurance payouts.
• If a Veteran, Notify the VA: This will address any benefits or necessary updates. To learn more, visit: https://www.va.gov/family-and-caregiver-benefits/
• Inform Schools: If you have school-aged children, reach out to their school to arrange any support they may need

Within the First 10 Days

• Locate the Will and Executor: If your spouse had a will, find it and identify the executor. Ensure the estate is handled as instructed.
• Obtain at Least 10 Copies of the Death Certificate: The number needed is dependent on the number of accounts and properties held in your spouse’s name, but 10 is a good rule of thumb for an estate with few accounts, 20 is recommended if there are multiple accounts or a more complex estate. You’ll need these to handle various accounts and benefits. It may be simpler to get more than you think you may need rather than having to go back and order more.
• Hire an Estate Attorney: An experienced estate attorney can guide you through probate if needed and ensure all legal obligations are met. The estate attorney will generally work with you to determine the value of the estate. This will help to determine if tax reporting is required and if filing an estate tax return would be beneficial for estate planning purposes.

Within the First Month

• Notify Financial Institutions: Update account holders and beneficiaries to prevent unauthorized transactions.
• Remove Spouse’s Name from Joint Accounts: This includes deeds, vehicle registrations, and financial accounts.
• Cancel or Update Insurance Policies: Remove your spouse’s name as the beneficiary from policies or cancel policies no longer needed.

Within a Few Months

• Create a New Financial Plan: Assess your finances and update your plans based on the new circumstances.
• Contact Credit Bureaus: Inform them of your spouse’s death to prevent identity theft.
• Update Your Will and Beneficiaries: Include any newly acquired assets in your updated estate plan.
• File Final Tax Returns: Work with a tax professional to ensure your spouse’s final returns are filed correctly.
• Cancel Digital Accounts: Close or memorialize email and social media accounts.

Within 9 Months

• Disclaimer Trust: If a Disclaimer Trust is identified in your spouse’s Will and you opt to establish a Disclaimer Trust, this must be established with your attorney within 9 months of your spouse’s passing.

Long-Term Considerations

• Establish a Support Network: Engage with family, friends, and professionals who can help you emotionally and financially.
• Evaluate Long-Term Investments: Ensure your investments align with your new financial situation and goals.
• Review Health Care and Long-Term Care Plans: Make updates to health plans and consider any long-term care needs you might have.

This checklist is designed to guide you through essential steps to ease your burden during a very difficult time. When in doubt, please feel free to reach out to your tax advisor, estate attorney, and financial advisor who can help ensure everything is handled smoothly.