![]() ![]() Pay continuing expenses, such as mortgage payments, utility bills, and homeowner’s insurance premiums, until a property is sold or re-titled.Terminate leases and outstanding contracts on behalf of the deceased. ![]() Establish management of rental properties, both in- and out-of-state, as appropriate.If the decedent was an artist, author, musician, composer, or other creative person, arrange for the continued management of royalties and ongoing sales.If the decedent had his/her own business, arrange for management of the business.Redeem/re-title government bonds, either by the beneficiary or estate administrator.Transfer property left to the surviving spouse (in some states), or transfer assets held in trusts (such as living trusts or AB marital bypass trusts) to named beneficiaries, as appropriate.Transfer funds in IRAs and retirement plans to named beneficiaries.Transfer bank accounts and securities registered in “payable on death” form to beneficiaries.Pass real estate and other assets owned in joint tenancy to the surviving joint tenant.Sell or transfer the title for the deceased’s automobile to a beneficiary.Examine and approve or reject claims of creditors and make payments, as appropriate.Change all jointly held credit card accounts.Contact credit card companies to close/cancel all individually held cards of the deceased.Notify stockbrokers of the death and transfer ownership of jointly or solely owned stocks, bonds and mutual funds.Notify banks of the death and change information for any jointly held accounts.Notify the Social Security Administration of the death.Open an estate bank account to hold money that is owed to the deceased, such as real estate rental checks and stock dividends.File for employer benefits, as appropriate.File for fraternal, union and association benefits, as appropriate.File for veteran’s burial and survivor benefits, as appropriate.File for Social Security benefits, as appropriate.Locate military records, as appropriate.Notify those organizations providing retirement benefits, annuities and pensions.File and collect insurance claims as applicable – life, medical, health, disability, travel, accident, homeowners, car and/or credit.Inventory intangible financial assets such as stocks, bonds, bank accounts, IRAs, CDs, cash, mortgages, notes, pensions, life insurance, etc.Inventory and secure personal items such as cars, trucks, boats, recreational vehicles, mobile homes, motorcycles, furniture, fine jewelry, art and personal contents of the home(s).Inventory tangible real estate property and locate all real estate deeds, mortgages, leases, and tax information.Proceed with probate filing, if no trust was created or if the trust was not properly funded.Review the will with the deceased’s attorney to determine whether probate is needed.Make copies of marriage and birth certificates.Compile a list of heirs, next of kin and beneficiaries.Check the contents of any safe deposit boxes (requires a death certificate, executor’s appointment in the will, rental agreement and photo ID).If necessary, obtain letters testamentary for personal representative, issued by the court that proves the authority to administer the provisions of the deceased’s will.Make copies of dated obituary notice and/or newspaper articles, to serve as further proof of death.Review will with an attorney to determine if probate is neeed.Find the original will (must be original).Here is a practical checklist for a personal representative's duties: The personal representative's job is made much harder if information has not been pulled together nor decisions made in advance. A personal representative can be a spouse, adult child, a legally-appointed friend or relative, or a trust company named by the decedent in their will or trust ( decedent means the person who has died). One way to convince people to make these arrangements is to examine the many responsibilities an estate's personal representative has to carry out.Ī personal representative (often called an executor) is the person that will handle everything related to your estate after you are gone. They don’t have wills or trusts, advance medical directives or pre-need funeral planning in place before there’s a death in the family. More than 70% of adults avoid preparing for end-of-life realities. ![]()
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