Saturday, August 21, 2010

When a parent dies what are the first things that should be done pertaining to finances?

Thanks.When a parent dies what are the first things that should be done pertaining to finances?
well I am not an attorney but here are some things to consider





Is there a will? If so get to an attorney with it ASAP - the executor of the will has most of the fiduciary responsibility





Collect all bank account information and debts. (you may need to watch incoming mail to get a bead on this unless the person was well organized - my mother was ultra organized here)





Collect information on life insurance and retirement (401k, Pension plans)





Collect all credit cards





Look through personal files for information - you may find actual physical stock certificates and tax information





Just some thoughtsWhen a parent dies what are the first things that should be done pertaining to finances?
read will if any, - if no will - talk to a probate lawyer before doing anything - pay for the funeral, contact life insurance companies for claims, pay outstnding bills, s
You need a probate attorney.

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