| ____ |
Telephone a friend to spend the next few hours with you
if you are alone. Shock and trauma can take unexpected forms. |
| ____ |
Make an appointment with a funeral director to discuss
funeral arrangements. Ask for several copies of the decedent's death certificate, which
you will need for the decedent's employer, for life insurance companies, and for legal
procedures. |
| ____ |
Locate the family's important papers, including wills,
trust instruments, life insurance policies, stock certificates, etc. |
| ____ |
You should be aware that certain jointly held assets,
such as safe-deposit boxes and checking or savings accounts, may be frozen
as soon as the bank or other institution involved becomes aware that one of the joint
owners has died. Thus, although such assets are intended to pass to the surviving account
holder 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. |
| ____ |
Make an appointment with your tax adviser and attorney to
review the decedent's will and discuss any state and federal death taxes payable. |
| ____ |
Notify your inheritance tax office and ask for the required forms.
In many states, you must have a release from this office before company benefits
or insurance benefits can be paid. (The office will be listed under your state listing in
the phone book if you live in an urban area. If you do not, your tax adviser can supply
you with the proper address.) |
| ____ |
Telephone the decedent's employee benefits office with
the decedent's name, the decedent's social security number, the date of the decedent's
death, whether the death was due to accident or illness, and your name and address. The
company can then begin to process any benefits payable immediately. |
| ____ |
If the decedent was eligible for Medicare, notify Medicare of the
death, giving the decedent's name, the decedent's social security number, the
date of the decedent's death, whether the death was due to accident or illness, and your
name and address. |
| ____ |
Notify Social Security of the death. Claims may be
expedited if you go the nearest Social Security Office in person to sign a claim for the
survivor's benefit. Look for the address under U.S. government in the telephone book. |
| ____ |
If you need emergency cash before insurance claims are paid, a
cash advance may be made from any life insurance benefits to which you are
entitled. |
| ____ |
If the decedent served in the U.S. military, notify the Veterans
Administration. You may be eligible for death or disability benefits. |
| ____ |
In a small ledger, keep track of any money you spend.
These figures will be needed for tax returns. |
| ____ |
Remember that you are in a highly emotional state. Avoid
contracting for anything, and avoid spending or lending large sums of money. |
| ____ |
Contact Deloitte & Touche or your financial counselor
for an appointment to discuss updated planning. |
| ____ |
After a few weeks, the paperwork will begin to diminish. You
can then take the opportunity to make any necessary changes in ownership registration for:
automobiles; stocks, bonds, and investments; your residence; boats; savings and checking
accounts (you may wish to open a joint account with another member of your family); charge
accounts; and safe-deposit box. You may also wish to make a new will for yourself. |
Estate Planning Guide 
