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Losing a loved one can be a challenging time. It can quickly become difficult or frustrating without a plan of action or an idea of where to begin. There are a few initial steps you can take after the death of a loved one to try to make this process a little less overwhelming.

The first step is to do those things that are time sensitive. This would include notifying family members and close friends of your loved one’s passing. It would also include determining if instructions were left for funeral services, such as:

• if they wanted to be buried or cremated
• if they had preferences to be laid out for a viewing or a memorial luncheon be hosted in their honor
• if they had a prepaid funeral contract
• if they purchased a plot at a particular cemetery

While working with the funeral home, you should be sure to obtain death certificates. In most cases, an initial order of ten death certificates should be sufficient.

The second step is to secure the house and any other personal property, especially if no one lives there anymore. Arrangements should be made to take care of any pets. Then, for assets, gather, assess and categorize (financial account, real property, personal property) the assets first. You should not be dividing up or distributing anything until you have had sufficient opportunity to do the assessment.

Be sure to locate any other crucial paperwork, including:

• an estate plan with a living trust or last will
• account statements for banks, investments, retirement accounts and pension plans
• copies of Social Security statements
• insurance policies
• vehicle titles
• deeds to the home and other properties
• list of usernames and passwords to any online accounts

Also, determine who their planning professionals were. They may have had an estate planning attorney, financial advisors, or a CPA. Gathering this information and any other paperwork your loved one had will assist you in determining what additional steps you may need to take next. The estate planning attorney can help you review the deceased’s estate plan to determine who is responsible for managing the estate, whether probate is needed, and how particular assets should be distributed. Then, the financial advisors can help make sure accounts are properly transferred or paid out to beneficiaries and CPAs can assist in making sure final personal returns, and potentially trust or estate tax returns, are filed.

After you have completed these initial steps, you may still be a little overwhelmed, and that is ok! Losing a loved one is a difficult and emotional experience. Professionals can be there to guide you and your family through the process and answer any questions you may have. For additional information about what to do when a loved one passes away, contact us at (248) 409-0256 for a complimentary initial consultation.