Who do I contact, What do I need:
You have just suffered an emotionally devastating event and the last thing you want to deal with is money and legal matters. But they do matter, now and for your future, so try to do the best you can. Many of these tasks can also be handled by family members and trusted friends, so allow them to assist you.
Within the First Month
* Ask your bank to release joint bank account funds to you. - In some states, joint bank accounts are automatically frozen upon the death of one spouse.
* Set up a new bank account: You will need to sit down with your banker and decide which type of account will suit your needs and how you can close out all accounts you now have control of that has your spouse's name associated with it.
| Notify the insurance companies (in writing): that insured
your spouse of his or her death. Each company will need a statement of claim
and a death certificate before the surviving spouse can receive benefits. Keep
copies of all correspondence.
Write a formal letter: To your spouse's employer, union, or any other group or professional organization with which he or she may have had an association. Many of these organizations have insurance policies of which you may be the beneficiary. Also inquire about any 401(k), pension, or company stock benefits. If your spouse was a veteran, apply for veterans' benefits at the nearest Veterans Administration office. Keep copies of all correspondence. Learn more about benefits.
Advise all creditors: In writing, including issuers of credit cards, that your spouse has died. If you have any loans, find out if they are insured.
Consult a lawyer: Your family may be very well meaning, but they are not necessarily legal experts. Discuss fees before you engage any legal help.
Within the First Six Months:
See a tax accountant or tax lawyer: Federal law requires that an estate tax return be filed within nine months of the death in many cases. Since tax laws are constantly being revised, it is important to seek out expert advice to determine your full tax liability.
Probate - These procedures can be a complex matter, depending upon the size of the estate and the claims against it. In some states probate can take a year to complete, so again, an attorney can be helpful.
Within the First Year:
Determine your annual income: which consists of your salary (if you work), benefits, and income-producing assets. This will include investments and savings.