[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/what-must-be-done-when-a-loved-one-dies-new-york-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/what-must-be-done-when-a-loved-one-dies-new-york-ny-greenwich-ct\/","headline":"What Must Be Done when a Loved One Dies?","name":"What Must Be Done when a Loved One Dies?","description":"\u201cIt can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.\u201d When a member of a family dies, it falls to the people left […]","datePublished":"2020-07-16","dateModified":"2025-04-02","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso, LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso, LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0263ec274f0d.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0263ec274f0d.jpg","height":600,"width":900},"url":"https:\/\/www.amorusolaw.com\/blog\/what-must-be-done-when-a-loved-one-dies-new-york-ny-greenwich-ct\/","about":["Beneficiary","Estate Planning","Executor","Fiduciary","Social Security","Will"],"wordCount":708,"keywords":["Beneficiary","Estate Planning","Executor","Fiduciary","Payable-On-Death","POD","Social Security","Will"],"articleBody":"\t\t\t\t \t\t\t\t \u201cIt can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.\u201dWhen a member of a family dies, it falls to the people left behind to pick up the pieces. Someone has to find out if the person left a last will, get the bills paid, stop Social Security or other automatic payments and file final tax returns. This is a hard time, but these tasks are among many that need to be done, according to the article “How to manage a loved one\u2019s finances after they die” from Business Insider. This year, more families than usual are faced with the challenge of taking care of the business of a loved one\u2019s life while grieving a loss. When death comes suddenly, there isn\u2019t always time to prepare.The first step is to determine who will be in charge. If there is a will, then it contains the name of the person selected to be the executor. When a married person dies, usually the surviving spouse has been named as the executor. Otherwise, the family will need to work together to pick one person, usually the one who lives closest to the person who died. That person may need to keep an eye on the house and obtain documents, so proximity is a plus. In a perfect world, the person would have an estate plan, so these decisions would have been made in advance.Don\u2019t procrastinate. It is hard, but time is an issue. After the funeral and mourning period, it\u2019s time to get to work. Obtain death certificates, and make sure to get enough certified copies\u2014most people get ten or twelve. They\u2019ll be needed for banks, brokerage houses and utility service providers. You\u2019ll also need death certificates for taking control of some digital assets, like the person\u2019s Facebook page.The first agency to notify is Social Security. If there are other recurring payments, like VA benefits or a pension, those organizations also need to be notified. Contact banks, insurance companies, and financial advisors.Get the person\u2019s credit cards into your possession and call the credit card companies immediately. Fraud on the deceased is common. Scammers look at death notices and then go onto the dark web to find the person\u2019s Social Security number, credit card and other personal identification info. The sooner the cards are shut down, the better.Physical assets need to be secured. Locks on a house may be changed to prevent relatives or strangers from walking into the house and taking out property. Remove any possessions that are of value, both sentimental or financial. You should also take a complete inventory of what is in the house. Take pictures of everything and be prepared to keep the house well-maintained. If there are tenants or housemates, make arrangements to get them out of the house as soon as possible. Accounts with beneficiaries are distributed directly to those beneficiaries, like payable-on-death (POD) accounts, 401(k)s, joint bank accounts and real property held in joint tenancy. The executor\u2019s role is to notify the institutions of the death, but not to distribute funds to beneficiaries.The executor must also file a final tax return. The final federal tax return is due on April 15 of the year after death. Any taxes that weren\u2019t filed for any prior years, also need to be completed.This is a big job, which is made harder by grief. Your estate planning attorney can assist you in taking the necessary legal steps to help you administer your loved one\u2019s estate. An attorney or a fiduciary will take a fee, either based on an hourly rate for services performed or a percentage of the entire value of the estate. However, the peace of mind that comes with knowing the estate was handled correctly will be worth the expense.Reference: Business Insider (May 2, 2020) “How to manage a loved one\u2019s finances after they die”For more information on elder law and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"What Must Be Done when a Loved One Dies?","item":"https:\/\/www.amorusolaw.com\/blog\/what-must-be-done-when-a-loved-one-dies-new-york-ny-greenwich-ct\/#breadcrumbitem"}]}]