Managing Responsibilities Upon the Loss of a Loved One
Mourning. Denial. Shock. Confusion. Anger. A loved one’s passing can be emotionally overwhelming—even before it comes to the responsibilities you may inherit at that time.
We know from our personal and professional experience that grief can make even the simplest tasks difficult. Managing the affairs of someone who has passed can be a lot for any one person to handle—we produced this checklist to provide support and help give you some direction.
Know that we are always available to assist our clients after the loss of a loved one—please call us if you have any questions about what to do. In the meantime, there are a few things you might consider doing now to ease your burden down the road.
Unfortunately, there are a few matters that must be taken care of very soon after someone passes away.
In the first two weeks…
After informing family members and arranging a funeral, it’s time to take the less urgent steps of attending to core pieces of your loved one’s financial affairs. Here are some good places to start.
In the first month…
Once the funeral and initial requirements are behind you, you may want to start thinking about settling the estate. Don’t take on more than you feel you can handle. Making measured, steady progress can fend off feeling overwhelmed down the road.
By the end of the second month…
By now, most of the time-sensitive requirements are in your rearview mirror and you can take a bigger picture perspective of your loved one’s estate and possessions, as well as getting ahead of tax deadlines and any potential identity theft risks.
Inside three months…
You can begin to make plans for the road ahead, including the distribution of assets to beneficiaries and adjusting the investment strategy for inheritances or other legacy wishes.
We’re Here to Help
We know that the responsibilities you must accept upon the loss of a loved one are a lot to absorb, especially when going through one of life’s most difficult circumstances. Remember that you have time on your side; if probate is in play, the process typically takes six months to a year and can last longer if the estate is complicated.
Consider this roadmap and the checklist that follows to be a foundational resource. If you have any questions about it, or how Adviser Investments works with our clients through difficult times, one of our experienced wealth planners would be happy to have a conversation with you. Call or email us today at (800) 492-6868 or email@example.com.
Financial Documents Checklist
Life events often occur suddenly and unexpectedly. Getting organized now—with documents, account numbers and passwords—will help you feel more in control during stressful times. This checklist provides the items you may need to settle your loved one’s affairs. Many can be found and organized ahead of time.
This material is distributed for informational purposes only and is not financial or investment advice. Speak to your financial adviser before taking specific action. The investment ideas and opinions contained herein should not be viewed as recommendations or personal investment advice or considered an offer to buy or sell specific securities. Data and statistics contained in this report are obtained from what we believe to be reliable sources; however, their accuracy, completeness or reliability cannot be guaranteed.
Our statements and opinions are subject to change without notice and should be considered only as part of a diversified portfolio. You may request a free copy of the firm’s Form ADV Part 2, which describes, among other items, risk factors, strategies, affiliations, services offered and fees charged.
Past performance is not an indication of future returns. We do not provide legal or tax advice, nor sell insurance products. Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with Adviser Investments Tax Solutions. We do not provide legal advice, nor sell insurance products. Always consult a licensed attorney, tax professional, or licensed insurance professional regarding your specific legal or tax situation, or insurance needs.
© 2021 Adviser Investments, LLC. All Rights Reserved.