Our Weekly Tip: 11 Immediate Priorities When Settling An Estate

Credit: chesterfieldtrustlawyer.com

Our Tip of the Week: Settling an estate is complicated enough to understand without the complexities of loss and bereavement that often accompany this trying and necessary responsibility. Settling an estate involves a lot of paper work, so it’s beneficial to have it sorted out well before a loved one dies. It can even be considered a life skill that should be taught in public schools. In lieu of that, SevenPonds has created a checklist of eleven essential things to know and do immediately after the death of a loved one to make settling their estate as easy as possible.

How-to Suggestion: Follow these initial steps when you are approaching the process of settling an estate:

1. Look for a Will or Trust
2. Determine who is the executor or trustee of your loved one’s will or trust
3. Arrange for temporary care of minor children and other dependents
4. Obtain certified copies of the death certificate
5. Collect the mail
6. Pay the bills
7. Secure the residence, automobiles and tangible property
8. Notify credit card companies and credit reporting agencies
9. Notify the employer (only if person was employed at time of death)
10. Notify Social Security (only if person was receiving social security benefits)
11. Notify Veterans Affairs Administration (only if person was a US war veteran)

Find a more thorough explanation of how to go about accomplishing these tasks on the SevenPonds After Death Planning Guide.