6 Steps When a Loved One Passes

Ah, but what if there is no will? Well, then things get a bit more complicated. You’ll still take the death certificate to probate court and petition the court to begin the probate process. You can also request to be named administrator of the estate, but there’s no guarantee the court will honor that request.

The probate court will then decide, according to state law, how the deceased estate will be divided up among the heirs. Things may get complicated at that point, and you may want to have an estate attorney help you through the process of distributing the assets. 

Here’s where you may discover that some assets can pass directly to beneficiaries without going through probate. Check with administrators of retirement and standard brokerage accounts for transfer on death or TOD instructions. For banks, check for payable on death or POD instructions. You’ll probably have to provide a copy of the death certificate to get the funds released.

At this point, you should also notify the three credit reporting agencies, Equifax, Transunion, and Experian of your loved one’s passing. Again, you’ll need the death certificate. They will close those accounts. Get copies of the reports and check to make sure everything is in order and that there are no fraudulent accounts or transactions.

Remember to pray for guidance and know that you are never alone. Romans 13:5 assures you, “Never will I leave you; never will I forsake you.”

• When does it make sense to switch financial advisors? 
• Are proceeds from an inheritance taxable?