Podcast Show Notes – The Architecture of Wealth

Date: 11/23/2022

Name of podcast: The Architecture of Wealth

Episode title: What to Do When Someone Dies

Whether you’re handling the death of a loved one or you want to make life easier for your loved ones upon your death, these steps can help a family navigate the complexity of death both financially and legally. The list of steps can also help families plan ahead of time. 

For information about Sona Wealth Advisors: www.SonaWealthAdvisors.com

Summary:

In the wake of losing a loved one in the Struthers family household, we are sharing a list of what to do when someone dies. Starting with immediate steps and then moving on to steps to take within a couple of weeks of losing a loved one, this list encompasses everything practical a family can do.

Step 1: Obtain legal pronouncement of death from staff at hospital or hospice

Step 2: Tell family and friends

Step 3: Learn about existing funeral plans

You should take the first three steps immediately. And within a few days of death, you should make the funeral arrangements. While it may seem strange to think about, but as people get older, they should take a headshot every two-three years for the family to use. Then, within a few days, you should follow this next series of steps:

Step 4: Make funeral arrangements

Step 5: Secure the property, including cars, jewelry, guns

Step 6: Care for pets

Step 7: Forward e-mail

Step 8: Notify the employer

Within two weeks of death, you should then take the following steps…

Step 9: Obtain certified copy of death certificate

Step 10: Find a will and an executor

Step 11: Contact an attorney & contact a CPA

Step 12: Start the probate process

Step 13: Make an inventory of all assets

Step 14: Track down other assets

Step 15: Make a list of bills

Step 16: Cancel services no longer needed, e.g cell phones

Step 17: Hang on to passports

Step 18: Notify social security

Sept 19: Notify banks, financial institutions, credit agencies, etc.

Step 20: Cancel driver’s license

Step 21: Close out credit cards

Step 22: Terminate insurance policies

Step 23: Memorialize social media accounts

Step 24: Update voter registration

Timestamps:

0:00 Struthers family handling the death of a loved one led to this podcast

2:02 Question to ask, as a parent: are you going to make it easy on your loved one?

2:39 Step 1: Obtain legal pronouncement of death from staff at hospital or hospice

2:48 Step 2: Tell family and friends

3:24 Step 3: Learn about existing funeral plans

3:40 Step 4: Make funeral arrangements

5:20 Step 5: Secure the property, including cars, jewelry, guns

5:49 Step 6: Care for pets

6:02 Step 7: Forward e-mail

6:13 Step 8: Notify the employer

6:20 Step 9: Obtain certified copy of death certificate

6:28 Step 10: Find a will and an executor

6:46 Step 11: Contact an attorney & contact a CPA

7:19 Step 12: Start the probate process

7:45 Step 13: Make an inventory of all assets

8:35 Step 14: Track down other assets

8:40 Step 15: Make a list of bills

9:28 Step 16: Cancel services no longer needed, e.g cell phones

9:49 Step 17: Hang on to passports

10:01 Step 18: Notify social security

10:03 Sept 19: Notify banks, financial institutions, credit agencies, etc.

10:19 Step 20: Cancel driver’s license

10:26 Step 21: Close out credit cards

10:29 Step 22: Terminate insurance policies

10:33 Step 23: Memorialize social media accounts

11:18 Step 24: Update voter registration

11:25 Link to emergency binder

Podcast Show Notes written by PalmBeachcomber on Fiverr: https://www.fiverr.com/palmbeachcomber

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Mark Struthers

www.SonaWealthAdvisors.com

Chanhassen, MN 55317 The Architecture of Wealth Podcast is for educational purposes only. Investment Advisory Services are offered through Sona Financial LLC (DBA Sona Wealth and Sona Wealth Management), a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed during this show/episode should be viewed as investment advice. If you have questions pertaining to your specific situation, please consult your own financial professional.