Beneficiary Resource Center |
What To Do After A Loss: Within Two Weeks
Locate important papers and documents.
Certain documentation is needed (document checklist) to claim death benefits. Anyone involved in an estate will need access to a wide range of information and documentation.
Also you will need to check with the deceased’s accountant, who may know of certain business arrangements that you are not aware of and who will help access tax records.
Do not throw out any documents such as life insurance policies and certificates, even if the policyholder stopped paying premiums. The policy may still be in force.
If you have trouble finding anything, ask family, friends and business associates who may be able to point you in the right direction.
Advise all creditors.
Be sure to notify all agencies that hold installment loans, credit cards, mortgages, student
loans and service contracts about the death. Ask if any outstanding loans are insured, or if
any life insurance benefits are available. Some of these loans may become fully paid in the
event of a customer’s death.
Discuss outstanding debts with an attorney or surrogate court.
Do not use insurance proceeds to pay debts of the deceased unless advised to do so by an
attorney. You may not be obligated to use the insurance proceeds to pay such debts. Also,
beware of swindlers who send phony bills and overcharge for services. When in doubt, check
with the Better Business Bureau and refer suspicious bills to your attorney.
Contact the trust officer.
If a trust was established by the deceased, discuss the terms of the trust with the trust officer.
If children are attending college, contact their school’s financial aid office.
When a parent dies, college students are often eligible for increased financial aid, loans or grants.
