Published in February 2020 by Karen Brooks. This information is to guide you and is based on my personal experience. This is NOT financial and/or legal advice as I am not qualified to give out this type of information. I am not liable for any unintended consequences and you are entirely responsible to make sure you are fully informed. So use this document in conjunction with other information. This is not meant to replace or be the only source of information when navigating these systems.
Financial Checklist After Death And Things To Consider
- Make funeral arrangements: Funeral homes should be able to help you with immediate things to do.
- It is recommended to order 5-10 copies of the Death Certificate (DC) both long and short forms. (You will typically need one Death Certificate for each financial institution the deceased person had.)
- Locate their Will and financial documents. Call the attorney that wrote the Will and set an appointment. You may need to transfer everything to surviving spouse and change beneficiaries.
- If there is no attorney, you can connect with one if needed for advice: Lawyer referral service is 800-452-7636.
- Financial Accounts: If no list exists then create one by going through their statements and other paperwork.
- Start a Notebook – or some other way to track calls and activity. Use a separate page for each financial account and keep a note of all phone calls made, dates, names of people spoken to, all action you did, forms you filled out, when they were mailed, etc. Keep this notebook until all change of accounts are done.
- Write down in one spot the deceased person’s full legal name, Social Security Number, date of birth, last address and phone number as you will be asked this with every phone call.
- Identifying information: Keep deceased person’s driver license, marriage certificate, service discharge paperwork, social security card, and birth certificate – you will need copies of these to send out. If someone other than the surviving spouse is contacting the deceased person’s financial institutions you may need to grant them special permission to do this for you, either verbally or written.
- Taxes: Call 1-800-829-1040 for assistance filing taxes for deceased. Keep all financial paperwork until taxes for the year are done, then file as you usually would. Contact the Oregon Department of Revenue for information regarding inheritance taxes: 503-378-4988.
- Life Insurance: Collect on any life insurance policies. Call the company and ask how to file a claim- they will need the original long form of death certificate. If death was an accident, there may be accidental death and dismemberment benefits available from insurance companies and even from bank or credit union free policies.
- Also if surviving spouse has a policy then s/he will need to do new beneficiary forms as most likely the deceased spouse was listed as their beneficiary.
- Social Security: 1-800-772-1213 7am-7 pm. Call and inform them ASAP (often the funeral home may report this for you). First phone call will notify them so they stop any payments the person was receiving. They will issue a one time death benefit of $255 to spouse or child if eligible and set up another appointment to determine if spouse/child are eligible for monthly benefits. They may need a copy of the marriage certificate.
- Important Note: If you receive a payment for a deceased person during the month of their death, you will need to return the payment. You will need to contact your bank if payments are auto deposited and ask them to return any payments that come in for the month of death or later. Do not cash benefits for the month of death. For more info and forms go to www.socialsecurity.gov.
- Veterans Administration: 1-800-827-1000. The benefits available from the VA are determined by the deceased’s military status and if s/he died in a VA hospital.
- You may request a packet sent with the various available benefits.
- You can order a flag and have Military personnel available at the funeral.
- You may be able to activate mortgage cancellation if you have Oregon State Home Loan Mortgage, call 503-373-200. They will probably want a copy of military discharge papers and DC.
- Railroad Retirement: If ever employed by railroad contact 503-326-2143.
- PERS: If the deceased was ever a public employee or civil service employee call 503-229-5824 ASAP.
- Income from retirement: Call and inform source – they may need DC.
- Credit cards: Call and cancel them. (Continue to pay off if balance? Ask the attorney that wrote their will or an estate attorney for advice).
- Credit Bureaus: There are three primary ones. In a letter send in the following information by mail to each –
- “I would like to report the death of X, on date XX/XX/XX. Would you please update the credit record to indicate that s/he is deceased? Would you also cancel all credit monitoring services s/he had as of the date of death? His/Her last address was: X His/her SS# was xxx-xx-xxxx. His/her DOB was xx-xx-xxxx. I have enclosed a copy of his/her DC, SS card and driver’s license (or 2 other valid forms of ID). I am his/her (state relationship and your name) and I have enclosed a copy of my driver’s license as well. Would you please send me confirmation that this has been done to my home address at x. Thank you for attending to this matter.“
- Transunion, PO Box 2000, Chester PA 19016 (if you know the transunion file number include this in the letter)
- Experian, PO Box 9701, Allen Texas 75013
- Equifax – you can fax this letter to 888-826-0727
- “I would like to report the death of X, on date XX/XX/XX. Would you please update the credit record to indicate that s/he is deceased? Would you also cancel all credit monitoring services s/he had as of the date of death? His/Her last address was: X His/her SS# was xxx-xx-xxxx. His/her DOB was xx-xx-xxxx. I have enclosed a copy of his/her DC, SS card and driver’s license (or 2 other valid forms of ID). I am his/her (state relationship and your name) and I have enclosed a copy of my driver’s license as well. Would you please send me confirmation that this has been done to my home address at x. Thank you for attending to this matter.“
- Bank accounts: Schedule an appointment to discuss what changes need to be made. You might want to leave one account with a deceased name on it until taxes are done, in case you need to deposit any refunds.
- You might need to transfer any joint accounts and/or safety deposit boxes to one owner or add a relative as co owner in case something happens to the surviving spouse so that someone can continue to pay bills.
- Do you need to order new checks? Update beneficiary forms?
- Check on any loans and make arrangements.
- House Title: (this might be part of what the attorney does if you see one). If not, go to the County Assessor’s Office with a Death Certificate and change the house title to surviving spouse if it is paid off. If you are still making payments, you may need to change the title at the mortgage company.
- Car Title: Go to DMV to change car title. You will need the title and funeral notice (not the Death Certificate). If the car is not paid off, send a copy of Death Certificate to the loan finance company. If a surviving spouse wants to keep a car and does not drive and has no drivers’ license, then whatever family member may be primary driver should be added to the car insurance policy. An Affidavit of Inheritance form must be signed if the car is only owned by the deceased.
- Insurance: Any insurance that was just covering the deceased person (LTC, medical & dental, fire, disability) call and inform the company that they have passed. You should get a prorated refund on any paid premiums. They should not send you any more premium bills. For any insurance that you were both listed on (home, car) call and get it transferred to surviving spouse name only – there may be an adjustment in premium rate.
- Retirement accounts: You will need to change beneficiary forms and possibly ownership if accounts were jointly owned. You will need to call each company individually and get instructions and forms on what is needed.
- Medical equipment: Used equipment can be donated in McMinnville to Oakwood. Also if you have a Life Line and/oxygen – call and have company remove deceased person and prorate to surviving spouse any refund due.
- Rx meds: Will need to be treated as hazardous waste. You can take them to the police department for disposal.
- Clothes: You can sell new or slightly used clothes in McMinnville at New to You or Second Threads Clothing Exchange (woman’s). Or donate to Goodwill, St. Vincent de Paul, Henderson House, Provoking Hope, a Shelter, etc. Family and friends may want some of it too.
- Be careful of people trying to scam you during this time! Never give out any private info. Do not pay anything that you do not know exactly what it is. When at funeral services, ask a neighbor or friend to watch your house as thieves watch funeral announcements to know when people are out of their home.
If you or someone you know needs help with downsizing, organizing, or creating a sacred space in your home, please get in touch with me today!
Karen Brooks is an Inspired Organizer at her business, Master Your Disaster, LLC. She helps people and companies create organized and sacred spaces for a peaceful and harmonious life. Serving in McMinnville, Newberg, Lincoln City, Salem, Oregon, and surrounding areas. You can reach her at masteryourdisaster@gmail.com or call 503-881-7652