Your family member or loved one has just passed. What do you do now?

by Ben Bhandhusavee, Esq.

First, before handling or distributing any of decedent’s assets, the decedent’s will or trust should be located.  If the decedent does not have a will or trust, there are state statutes which outline what will happen to the decedent’s property.  If the decedent’s property is titled in the name of a trust, the successor trustee will need to take control of the property and distribute it according to the terms of the trust.

It is often helpful to have the deceased’s vital statistical information whenever preparing to handle financial matters of the decedent. Examples include: date of birth, place of birth, date of death, SSN, dates of marriages or divorces, children or other family members names and contact information. 

Was the decedent retired and collecting Social Security benefits?  The local Social Security Agency office must be contacted so that benefits can be stopped.  Keep in mind that any checks received after the date of death must be returned--even if the check was deposited electronically.

It usually makes the estate lawyer’s job much easier (and less expensive to the estate) when someone has collected the decedent’s bills and documentation regarding any monies owed to third-parties.  The decedent’s wallet or purse should be checked for credit cards to identify and obtain information regarding creditors.  Preparation of a list and contact information of all health care service providers related to last illness and related care will also prove extremely helpful.

Similarly, documentation regarding the decedent’s utilities, cell phones, cable or satellite service, magazines and other periodic services should also be organized, these services notified and cancelled. However, it’s often a good idea to retain basic utilities to the decedent’s house until the property is sold or distributed.  Also, locate the decedent’s home insurance agent to verify how much coverage exists and if a rider needs to be purchased to maintain coverage on the premises.

The decedent’s assets will be used to pay the decedent’s bills and expenses.  This is true even if the decedent’s accounts or property are held as “joint tenants with right of survivorship” (“JTWROS”) or contain a “pay on death” (“POD”) designation.  The decedent’s share of the joint accounts must be used to pay the debts. 

Look for checking accounts, savings accounts, CDs, or electronic stock accounts, IRAs, 401(k)s, pensions and other retirement accounts, and collect all information regarding the decedent’s financial and investment accounts.  The decedent’s wallet or purse, file cabinets, incoming mail and prior tax returns are good places to look through in order to  compile a comprehensive list.

Typically, for accounts titled as JTWROS, POD or “transfer on death” (“TOD”) designation, a death certificate can be presented to the financial institution in order to get these funds distributed to the surviving joint tenant or the name beneficiary.  It is usually a good idea to order many death certificates, because you will need one for each account, each piece of property and a couple for government use.

For accounts titled in the name of the decedent, without a joint tenant with right of survivorship or without a “POD” or “TOD” designation, a probate proceeding will be necessary—unless the total value of such financial accounts and all other personal property amounts to less than $50,000, in which case the accounts can be distributed through a small estate affidavit. 

Similarly, for real property (e.g., personal residence, land, rental property, etc.), probate will be necessary for property (i) which is titled in the name of the decedent, (ii) where there is no joint tenant with right of survivorship, (iii) where there is no trust nor beneficiary deed, or (iv) if the total value of the property or debt exceeds $75,000.  In order to transfer title when there is a joint tenant with right of survivorship or a beneficiary’s deed, a death certificate needs to be recorded with the appropriate county recorder.

Have probate or estate administration questions or concerns?  Our law firm can help.  For more information, please e-mail or call our office at (602) 678-2970.

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