Steps Following the Death of Loved One

by | Oct 31, 2023 | Estate Planning, Probate, Wills & Trust

When a family member passes, there are a number of things that should be done, some require immediate attention and others can be taken care of in the weeks and months following the death. See our list of suggested steps you should consider doing following the death and suggested timing of doing so. In addition to these steps to take following the death, here are a few of the most commonly asked questions we receive following the death of a family member or loved one.

Many clients ask how they will know if probate is necessary. If your loved one owned assets that are not held in trust, held jointly, or which did not have beneficiaries designated, you may be required to probate the estate. Here are some of the things we suggest to determine if probate is necessary:

  1. Look at the most recent statement to see how the account is titled to see if the account is in multiple names, in a trust’s name, or only in the deceased’s name.
  2. Look at the life insurance policy documentation to see if beneficiaries are designated. Contact the life insurance company and notify them of the death and ask about beneficiaries, whether there are named beneficiaries, and next steps for beneficiaries to claim their share if beneficiaries are designated.
  3. Look at the deed to the home to see if the home is held jointly or in a trust.

What steps do I take to access accounts? Here are suggestions on how to access accounts:

  1. If the account is jointly held, the surviving joint owner should continue to have access to the account but should contact the financial institution once they have a death certificate to remove the deceased’s name from the account.
  2. If there are named beneficiaries on an account, contact the financial institution with a death certificate and follow their steps to obtain payout. Typically, this involves either submitting a claim or setting up an account to rollover the account.
  3. If the accounts are in a trust, the trustee or successor trustee will need to work with the financial institution to access the accounts and distribute them under the terms of the trust. We will discuss some of the steps that may be required in our blog in a few weeks.

At Grissom Law, we work with individuals and families to develop plans to make accessing assets after the death of a loved one efficient. We also work with families to probate their loved one’s estate. Call us at 678.781.9230 to schedule an appointment to discuss your estate plan or to probate your loved one’s estate.

Disclaimer

This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.