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Financial
and legal matters impact future losses
The death of a loved one can
be emotionally devastating, but asking trusted friends and
family members to help take care of important money and legal
matters can ease or prevent future losses. Each year,
one-third of Americans over age 65 fall*. Twenty to 30% of
those who fall suffer injuries that reduce their independence
and mobility. Falls also increase the risk of premature death.†
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AARP has created an excellent checklist to help organize the
necessary but painful financial and legal tasks that must
be completed within the first year after the death of a spouse.
Highlights are as follows:
Within the first month after a spouse's death
• Ask the bank to release joint bank account funds if
frozen
• Set up a new bank account;
• Secure enough certified copies of the death certificate
• Find important papers and certificates (e.g. bankbooks,
insurance policies, marriage and birth certificates);
• Notify the insurance companies in writing of the death;
• Contact social security to determine eligibility for
benefits,
Within the first six months
• See a tax accountant or tax lawyer about filing the
federally required estate tax return
• Consult an attorney if needed about probate procedures
Within the first year
• Determine your annual income from salary, benefits,
and assets such as investments and savings
• Create a yearly budget
Source:
AARP, Final Details: A Checklist
http://www.aarp.org/life/griefandloss/Articles/a2004-11-15-finalchecklist.html/tools/printable
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