Jan 27, 2011

Death details

"I am the unending, irresistible Life of the world," Emma Curtis Hopkins.

Our financial advisor gave us some guidelines for what to do when death occurs, which I thought would be helpful to pass along since we are dealing with a terminal illness --- and, one could say we each live in a terminal state of being.

Contact the funeral director, meet to make funeral arrangements, request at least ten certified copies of the death certificate which will be needed by life insurance companies, financial institutions, etc.

Make no immediate decisions about things like buying or selling one's house, borrowing or loaning money, changing job. Income flow may well be diminished. Be cautious for the first 2-3 months.

Contact your attorney to review will and trusts and possible death tax.

Contact your financial advisor to help assist with money flow issues.

Locate Important Papers: Know location of all documents and papers.

Safety Deposit Box. Be aware of the laws in your state/region on whether these boxes are sealed or inventoried upon one person's death. See whose name is on the box to assure more than one person can obtain access to box.

Bank Accounts: State laws vary, but be aware of all bank accounts and whether they are joint or not, and what the laws of your state/region are.

Notify the Social Security Office: In the U.S. claims may be expedited if one goes to the nearest office to sign a claim for survivors benefits, should that apply. The national toll free number is 1-800-722-1213.

Notify Life or Accident Insurers and inquire what information is needed to begin processing the claim. Discuss payment options.

Notify Medical and Homeowner/Auto Insurers: This can reduce premiums, but do not allow coverage to lapse. Eventually, these policies will be re-written in surviving spouse name, if applicable.

This will be continued tomorrow, and already I see that it does not include what steps to take when a person dies at home. I will research that.

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