Basically, it says that you should make sure that the originals of all of your valuable papers are put somewhere safe and that a loved one knows where that safe place is. Otherwise, when you become incapacitated or after you die there may be a great deal of frustration and unnecessary work as your heir or estate representative tries to figure out what you’ve done and how to prove it.
Check out this article and also check out Die Smart for more information on what to do.
Whether it is expected, or whether it is not, the list of things to do when someone dies can be overwhelming. Perhaps even more overwhelming is understanding the rules and regulations that manage the disposition of the body and the management of the deceased’s financial affairs.
Advanced planning made such a difference for myself and my family..
WHAT DO YOU DO NEXT?
When a person dies, someone assumes the legal authority to manage their “estate.” The term “estate” is the legal word used to collectively describe all the assets (property) and liabilities of the deceased. The person in charge of managing the estate can be the Executor, a Successor Trustee, or a representative appointed by the probate court. For small estates, it could be a family member.
It’s not an easy task. It is a job where state laws determine what paperwork and procedures are required and who has the authority to initiate the paperwork. It is not a job we are taught to perform in school, but a job most of us will do when our parents or our spouse die.
These resources can help the estate representative and family members identify what must be done when someone dies:
