What to Do When a Loved One Passes Away

The loss of a loved one is a profound and heart-wrenching experience. As a client of mine is currently going through the passing of a loved one, it served as a stark reminder of life’s fragility and the unspoken realities we often shy away from. While death is an inevitable part of life, the burden it places on those left behind can be alleviated with a bit of foresight and preparation.

In moments of grief, the last thing anyone wants to think about is the practical steps that must be taken. However, these steps are crucial to ensure that the wishes of our loved ones are honored and the family’s burdens are minimized. In this article, you will learn:

• Immediate actions to take within the first 24 hours.
• Key legal and financial steps to address.
• Practical tasks and ongoing responsibilities to manage in the days and weeks following the loss.
• Links to additional resources at the end

Let’s walk through this process together, step by step. As we go through these steps, understand some of these steps are part of your estate plan and will. These instructions will help reduce the burden of those we leave behind.

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Immediate Actions (First 24 Hours)

Obtain Death Certificates

When a loved one passes away, the first step is to obtain a legal pronouncement of death from a healthcare professional. This may sound insensitive, but the death certificate is essential for various legal and financial transactions.

The funeral home usually assists in obtaining these documents. Having multiple copies ensures you’re prepared for any situation that requires official documentation.

Locate the Will and Contact the Executor

The will is the roadmap to managing their estate. Locate this document and identify the appointed executor. The executor oversees the probate process, which is the legal procedure for distributing the deceased’s assets according to their wishes.

The roadmap should include instructions for notifying friends and family who care for Children and Pets, making Funeral Arrangements, etc. This single document helps significantly reduce the burden on those we leave behind.

Notify Close Family and Friends

Sharing the news with immediate family and close friends is one of the most complex parts of this journey. It’s important to approach this with sensitivity and care, ensuring the news is delivered compassionately.

Consider enlisting the help of others to make these calls so you won’t have to do it alone.

Arrange for Organ Donation (if applicable)

If your loved one wishes to donate their organs, you must act quickly to ensure their wishes are fulfilled. Contact the relevant healthcare provider or the local organ donation organization to coordinate this process. Their staff can guide you through what needs to be done.

Within the First Few Days

Secure the Property

If the passing is of a parent of someone you’re not living with, ensuring the safety of their home and valuables is a priority. Lock the house and inform neighbors or trusted friends to monitor the property. This step prevents theft and preserves the deceased’s belongings for the family to sort through later.

Arrange Care for Dependents and Pets

If the deceased had children, pets, or other dependents, immediate arrangements for their care need to be made. This might involve reaching out to family members or arranging professional care services. It’s essential to provide them with stability and support during this tumultuous time.

Select a Funeral Home and Plan Services

Another critical step is choosing a funeral home and beginning the memorial service planning process. Engage with family members to ensure the service honors the deceased’s wishes and reflects their lives. The funeral home staff can also help navigate the myriad of decisions that must be made.

Legal and Financial Steps

Notify Important Institutions

Informing key institutions is a necessary step to begin settling the deceased’s affairs:

• Social Security Administration: Stop benefits and inquire about any death benefits available.
• Employers: Notify them of the death and address any due wages or benefits.
• Insurance Companies: File claims for life insurance and other policies.
• Banks and Financial Institutions: Manage accounts and ensure they are secured.
• Creditors and Utility Companies: Settle or close any outstanding accounts.

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Inventory Assets and Liabilities

Creating a comprehensive list of the deceased’s assets and debts is vital for the probate process. This inventory will help the executor manage the estate and address all financial obligations.

Forward Mail

Set up mail forwarding to prevent identity theft and manage ongoing responsibilities. The postal service can do this, ensuring that you receive all critical correspondence.

Practical and Personal Tasks

Plan the Funeral or Memorial Service

Coordinating with family and the funeral home to plan the service can be therapeutic. It allows you to honor your loved one’s memory and provides a sense of closure. Incorporate elements that were meaningful to the deceased and their family.

Handle Digital Accounts and Subscriptions

Managing the deceased’s online presence is essential in today’s digital age. Close unnecessary accounts and secure any that contain sensitive information. This step helps protect the deceased’s digital legacy and prevents potential misuse.

Ongoing and Final Steps

Settle the Estate

Finalizing the distribution of assets and payment of debts involves working closely with legal professionals. The process can be complex and lengthy, but it’s essential for ensuring that the deceased’s wishes are honored and their estate is settled correctly.

Close or Transfer Ownership of Property

Handle the transfer or sale of the deceased’s property and vehicles. This may involve working with legal experts to navigate the ownership transfer process or preparing the property for sale.

Notify and Cancel Services

Contact all service providers to cancel or transfer services such as internet and cable. Create a checklist of services to address and systematically work through it to ensure everything is noticed.

Summary and Additional Resources

Dealing with the death of a loved one is a challenging and emotional journey. By taking these steps, you can manage the practical needs while honoring their memory and supporting those left behind. Remember to lean on your support network and seek professional advice when needed.

For more detailed guidance, consider exploring these comprehensive resources:

• AARP Guide
• Bereavement Advice Centre
• Trust & Will Guide
• United Way Guide
• Better Place Forests Checklist

Having these conversations and preparations now can alleviate much of the burden when the inevitable happens. Cherish the memories, honor their wishes, and take care of each other during this time.

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Disclaimer: Although Mr. Clark is a licensed advisor, he is not your advisor nor is he a CPA or Tax Attorney. Nothing discussed or shared should be taken as financial advice for any individual case or business situation. This information is for educational purposes only and is not intended to be tax advice or as an act of solicitation and/or recommendation to buy or sell any financial instrument.