Bogart Wealth Guides:

When you lose a loved one, logistics and money management are rarely top of mind. And yet, the decisions we make following a death may have wide-reaching consequences.

 

While advanced planning can help, survivors are often left juggling affairs. Learn the steps you should take after losing a loved one so you can focus your energy on more important matters.

 

Depending on the circumstances, some of these things may happen automatically. For instance, if the death occurs at a hospital, they likely have a process in place or a liaison to help. Regardless, make sure these things happen as soon as possible after death.

 

Exact next steps vary. The executor (of the will), trustee (of a trust), or judge (in probate) will likely lead the way. This guide can help you manage affairs if you’re in charge… or better understand the process if you’re in a supporting role.

 

Whether its taxes or Social Security, dealing with the government in relation to a death can feel daunting. You may want to hire a CPA, particularly if there’s a trust involved as the trust may have its own tax requirements.