When your spouse passes away, you may be left drowning in a sea of important decisions to make regarding his or her financial assets and sentimental possessions. Understanding which tasks are of primary importance is critical to avoid costly mistakes that may increase stress and prolong legalities. At Flynn, Py & Kruse, we have helped many people in Ohio to effectively navigate the often-complicated process of creating, executing and finalizing estate plans.
According to USA Today, there are several important items of business that you should proactively address following your spouse's death. These include the following:
- Contact financial institutions: You will need to contact all of the financial institutions where your spouse had relationships. For example, banks, employee-sponsored plans and mortgage associations among others.
- Acquire a death certificate: Contact the state and request a death certificate. Verify that all of your spouse's information is correct before finalizing the document.
- Ask about benefits: Contact government agencies in regards to benefits that you may be eligible for as the surviving spouse. If you still have dependents, you may be entitled to additional compensation.
- Notify service providers: Cancel any accounts your spouse had with service providers or modify the names on the account if it is a service you wish to continue. Examples include utility companies or club and gym memberships.
Acquiring a death certificate for your spouse, applying for benefits, organizing finances and modifying service accounts can help you to effectively prepare for your future as a surviving spouse. For more information about planning or executing an estate, visit our web page.