A financial checklist

When a loved one passes away, it is a time of immense grief and change. It is difficult under such circumstances to consider all the practical steps necessary to protect your financial affairs by notifying the appropriate agencies. A handy checklist prepared in advance makes the process significantly easier.

1. Request claim forms from any life insurance carriers.

2. Learn about your benefits with the Social Security Administration: 800 772 1213

3. If your loved one was still working, contact his or her employer regarding unpaid salary, accrued vacation time, benefits, and health insurance.

4. Ask the credit reporting agencies to put an alert on the decedent’s credit report. (Equifax.com, Experian.com, and TransUnion.com)

5. Cancel credit cards.

6. Contact an attorney to determine if probate is necessary to retitle assets, file income tax returns, or pay debts.

7. Contact insurance agencies for health care and autos to update their records.

8. Check if bank, retirement, and/or investment accounts have pay on death beneficiary designations; transfer those accounts.

9. Update beneficiary forms if needed.

10. If your loved one served was active military, then notify the U.S. Office of Personnel Management: 888 767 6738; Veterans' Affairs: 800 827 1000; Defense Finance & Accounting Service; 800 321 1080; and Servicemember's Group Life Insurance: 800 419 1493

11. Cancel subscriptions or memberships to magazines, gyms, organizations.

Seek a consultation with an attorney experienced in estate planning to ensure that if probate is necessary, that it is as streamlined as possible to avoid unnecessary delay, stress, and expense.

Carrie Campbell has lived and practiced law in Wimberley since 1997. She is the managing partner of Mounger & Campbell law firm. Carrie is an active member of the Rotary Club of Wimberley and president of the Wimberley Village Library Foundation. She proudly has three wonderful daughters and two lively grandsons.