Credit Professional 2018 Spring_2018_magazine | Page 7

Death and Finances:
Eight Things To Do After
Loved One Passes Away
By Lynnette Khalfani-Cox
Dealing with the death of a
loved one is stressful enough.
But not knowing what to do
with someone's finances after
the person has passed away
poses an additional burden on
a grieving family.
To make the process a bit
easier, here's a checklist of the
top eight money matters you
must deal with—and mistakes
to avoid—after someone you
care about dies. This checklist
isn't all-inclusive. But what
follows is critical information
that can save you precious
time, money and energy, as
well as help you avoid
squabbles over assets or
financial exploitation.
government agencies, creditors,
unions, membership groups
and other organizations won't
Get Multiple Copies of the even talk to you about a loved
one's financial affairs—let alone
Death Certificate
take action, like closing an
account—until you produce a
If you are the spouse or
death certificate. So you'll need
executor/executrix of the
deceased person, the first order this valuable document before
you start contacting banks,
of business is to go to the city
investment companies and
clerk's office or your local vital
statistics office and get certified other firms.
copies of the death certificate.
There's another reason to
Obtain at least 10 copies;
20 copies would be even better. immediately request multiple
Here's why: A dizzying number death certificates. No one is
of financial institutions,
going to pay you anything
without them.
The cost of getting a single
certified copy of a death
certificate typically ranges
from about $5 to $20. But
additional certified copies are
often provided at a discount if
you order them with your
initial request.
Also, many funeral homes will
give you one or two certified
copies of the death certificate
free of charge.
continued on page 7
The Credit Professional
6
Spring 2018