Emergency Checklist

The death of a loved one may be sudden and unexpected. In such an instance, the surviving spouse may be unprepared to deal immediately with a number of legal and financial actions that need to be taken. The following checklist is a summary of steps that should be taken immediately following an individual's death:

  • A friend should be contacted to spend the next few hours with the surviving spouse. Shock and trauma can take unexpected forms.
  • An appointment should be made with a funeral director to discuss funeral arrangements. A disinterested third party should accompany the surviving spouse when making funeral arrangements.
  • Contact, as soon as possible, your personal legal counsel, and PHH Client Services. If funds are received from a qualified pension fund or IRA it may be necessary to stop all automatic distributions until proper arrangements are taken to protect the estate plans. Usually distributions can be reinstated in a few days, after the estate plans are reviewed and instructions carried out by the executor.
  • A house sitter should be found for the descendent's residence, especially at the time of the funeral.
  • Several copies of the descendent's death certificate should be obtained. They will be needed for legal notifications at financial institutions, insurance companies, and government agencies.
  • The family's important papers, including the descendent's Will, Trust documents and letter of instructions, should be located. The gathering process should be continued until all necessary documents have been collected.
  • An appointment should be made with a tax advisor and attorney to review the descendent's will and to discuss any state and federal death taxes payable and elections that can be made with respect to the estate documents.
  • Certain jointly held assets, such as safe deposit boxes and checking or savings accounts, may be frozen as soon as the bank or other institutions involved become aware that one of the joint owners has died. Thus, although such assets are intended to pass to the surviving spouse outside the normal probate process, actual possession of such assets may be delayed pending a court order releasing them. Such an order may depend on satisfying inheritance or estate tax officials that the estate owns other assets adequate to pay any potential estate or inheritance tax.
  • The Inheritance Tax Office of the state of residence should be notified and the required forms obtained. In many states, a release from this office is necessary before company benefits or insurance benefits can be paid. (The office will be listed under the state listings in the telephone book of an urban area. Otherwise, the tax adviser can supply the proper address.)
  • The descendent's employee benefits office should be contacted, and told the descendent's name, Social Security number, date of death, whether the death was due to an accident or illness and the surviving spouse's name and address. The employer can then begin to process any benefits payable immediately.
  • If the descendent was eligible for Medicare, notification should be made and the same information should be given as outlined above.
  • The Social Security Administration should be notified of the death. Claims may be expedited by going to the nearest Social Security office in person to sign a claim for the survivor's benefits. The address can be found under the "U.S. Government" listings in the telephone book.
  • If the descendent had previously been in military service, the Veterans Administration should be notified. The surviving spouse may be eligible for death or disability benefits.
  • If emergency cash is needed before insurance claims are paid, a cash advance may be made from any life insurance benefits to which the surviving spouse is entitled.
  • In a small ledger, all the money spent should be recorded for use in filing tax returns.
  • The surviving spouse may be in a highly emotional state and should avoid contracting for anything and avoid spending or lending large sums or money.
  • After a few weeks, when a sense of normalcy returns to the household, any necessary changes can then be made in ownership registration for stocks, bonds, and other investments; the residence; automobile; boat; savings and checking account (a joint account with another member of your family may be desired); charge accounts; and safe deposit boxes.
  • Finally, it may be appropriate for the surviving spouse to meet with an attorney for the purpose of creating new or revised estate documents such as a Will and Trust.