INTRODUCTION
The passing of a loved one is a soul-shocking event. Here at Stephens Fiddes McGill ; Associates, P.C., we recognize that this is a time of grief, confusion, and a general feeling of being lost in the world. We have prepared this information to help you navigate and find some difficult items. It outlines what you should be doing in the upcoming days, weeks, and months. These efforts will interface with your thought processes, and this information is presented as a checklist to turn to for helping you focus on moving forward as best you can.
WHAT DO I DO NOW?
This is the most common first question. Call us. We are here to help with compassion and knowledge of all estate type questions. Most cases do not need to be probated to resolve estate issues. Depending on the type and amount of property and debts, and how those are titled or beneficiaries, estates can be resolved without doing anything. Some estates can be resolved using non-probate affidavits of heirship. And if those methods are not available, we can guide you through the probate process.
GATHERING DOCUMENTS
After you call, an appointment will be made to discuss your estate matters with a seasoned, experienced attorney. To assist the attorney, he or she will need a variety of documents. If you’re not sure where any of these are, check with your lawyer, CPA, family members, and friends to see if they have them. If you’re still missing some after checking with these individuals, search your loved one’s file cabinets, personal safe, and bank safe deposit box. In a worst-case scenario, you may need to contact legal or business entities, such as the city clerk for a marriage license or a doctor’s office for medical records.
These are the documents you’ll need after your loved one passes:
- Birth certificate
- Death certificate
- Will and Trust, if a trust exists
- Marriage certificate
- Most recent financial account records, including checking and savings accounts, loan accounts, and investment accounts like trusts
- Real estate records, including deeds and lease agreements
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- Other titles of property, including for cars, boats, and RVs
- Recent credit report from one of the three credit bureaus (Equifax, Experian, and TransUnion) that list outstanding debts
- Military service records and discharge papers
- The last three years of tax returns
- Insurance policies
- Documents evidencing any tax-deferred assets, such as 401(k), IRAs, Pension
- Evidence of debt, such as mortgage statements, car loan statements, personal loan statements, and credit card statements
- A list of names and addresses of all surviving children, and if a child has predeceased, the name and addresses of all of the deceased child’s surviving descendants
You will need to bring those documents with you when you meet with your attorney.
OTHER COMMON QUESTIONS AND INFORMATION
SOCIAL SECURITY
Upon any death of any individual, the funeral director is obligated to report the death to the Social Security Administration (SSA) for you. Upon that reporting:
- SSA will notify Medicare.
- Any Social Security benefits the person was receiving will stop.
- You must return any payment for the month the person died.
- You should contact Social Security about your right to receive survivor’s benefits.
DRIVER’S LICENSE
Contact the Illinois Secretary of State’s office to:
- Cancel the person’s license or ID
- If any vehicles are in the deceased’s name only, transfer the title of any vehicle the person owned
INCOME TAX RETURNS
If tax returns were required in the past, you must file the person’s final income tax returns. Include all unreported income the person earned up to their date of death.
PASSPORTS
You can return the person’s passport to the Department of State (DOS) for cancellation. Google “How do I cancel the passport of a deceased relative?” for instructions.
- This helps prevent identity theft.
- The DOS will send the canceled passport back if you want it, or they can destroy it.
ELECTION OFFICE
Contact the local election office to cancel the person’s voter registration. This helps prevent voter fraud.
VETERANS OF MILITARY SERVICE
If the person was a veteran, you can contact the Department of Veterans Affairs (VA) about:
- Burial benefits
- Death benefits and survivor benefits
- Veterans life insurance
You must notify the VA to cancel these benefits:
- Compensation
- Pension
- Education
- Health
If the person was receiving military-related benefits, report the death to the Defense Finance and Accounting Service (DFAS). They will:
- Stop monthly pension payments
- Send forms for the Survivor Benefit Plan if the person was enrolled
SOCIAL MEDIA SITES
Contact social media sites to close or memorialize those accounts.
FINANCIAL INSTITUTIONS
Report the person’s death to banks, credit card companies, credit bureaus, and other financial organizations. Remove them as the co-owner and beneficiary of your financial accounts. You may wish to be the sole owner or add a new joint owner, such as an adult child. Also contact utilities and places where the person had memberships and subscriptions.
INSURANCE POLICIES
Cancel insurance policies solely in your partner’s name and remove them from joint policies.
CHILDREN IN COLLEGE
If you have children attending a college or university, contact the school’s financial aid office. Your children may qualify for financial support, even if they weren’t eligible before your spouse died. If they have any student loans, also contact those financial institutions; they may reduce or forgive the debt. Lastly, be sure your child’s Free Application for Federal Student Aid (FAFSA) is filed for the following school year. Even if your child didn’t qualify for student aid prior to your partner’s passing, they may be eligible now that your financial picture has changed.
FINANCIAL ADVISOR
If you don’t already have one, consider working with a financial planner. This is an especially important step if your spouse’s death will have a major impact on your finances due to lost income from their job or work-related benefits they received. A financial professional will help you create a new daily living budget and make recommendations on how to trim your cost of living and save for the future.
ESTATE PLANNING
You will want to talk to an attorney about updating your estate planning documents, such as your Will and Power of Attorney. Depending on how they were drafted, you may not need to make any changes, but it is prudent to have these reviewed to see if changes should be made to best protect your assets and how you want those assets to be distributed, and if you want to make changes to appointments you’ve made, such as your Executor in your Will and Agents for your Power of Attorneys.
GRIEF
Reach out for help if you’re having trouble coping with your grief. Even when we’re surrounded by friends and family immediately after the death of a loved one, they all have to go back to their daily lives at some point, leaving many people feeling isolated in their despair. This can be even harder on spouses who’ve lost their husband or wife. If you think you need help working through your grief, reach out to your loved ones to ask for their support. Many people also find it helpful to join a grief support group or work with a mental health professional, such as a psychiatrist, psychologist, or therapist. Coping with the loss of your spouse will be one of the hardest parts of their death, but you don’t have to go through it alone.
SUMMARY
No one is insulated and does not experience the heart-wrenching loss of a loved one. Here at Stephens, Fiddes, McGill & Associates, P.C., we are here to help, with understanding and compassion. Hopefully, this guide will aid your journey of your new life without the one you held so dear. Let us help you on that journey.