Dealing with finances after a loved one’s death is overwhelming. This step-by-step checklist organizes everything by priority and timeline so nothing falls through the cracks.
Quick answer: Get 10–15 certified death certificates first. File life insurance claims immediately. Don’t pay the deceased’s debts from personal funds. Notify Social Security, banks, and employers within the first week. Most estates take 6–12 months to fully settle.
Immediate (First 1–3 Days)
| Task | Details |
|---|---|
| Secure the home | Lock up, collect mail, adjust thermostat |
| Locate important documents | Will, trust, insurance policies, financial account info |
| Contact funeral home | Arrange services, obtain death certificates |
| Order 10–15 certified death certificates | From county vital records or funeral home ($5–$25 each) |
| Notify immediate family | Coordinate with family on decisions |
| Contact employer (if employed) | Ask about final paycheck, benefits, life insurance |
First Week
| Task | Details |
|---|---|
| Notify Social Security | Call 1-800-772-1213; surviving spouse may get $255 lump sum |
| Freeze credit with all 3 bureaus | Prevent identity theft — very common after death |
| File life insurance claims | Contact each insurer with death certificate |
| Notify banks and investment firms | Secure accounts, prevent unauthorized access |
| Contact financial advisor/attorney | If estate has significant assets or complexity |
| Check for pension/annuity death benefits | Contact former employers |
| Notify VA (if veteran) | May qualify for burial benefits ($2,000+) |
First Month
| Task | Details | Documents Needed |
|---|---|---|
| File for probate (if needed) | Submit will to probate court | Will, death certificate |
| Obtain Letters Testamentary | Authority to act on behalf of estate | Court filing |
| Notify all financial institutions | Banks, brokerages, retirement accounts | Death certificate, Letters |
| Claim retirement accounts | IRAs, 401(k)s with named beneficiaries | Death certificate, beneficiary forms |
| Transfer joint accounts | Add surviving owner documentation | Death certificate |
| Contact mortgage company | Discuss options (continue paying, sell, insurance) | Death certificate |
| Notify insurance companies | Auto, home, health, disability | Death certificate |
| Cancel unnecessary services | Credit cards, subscriptions, memberships | Account info |
| Forward/redirect mail | USPS mail forwarding to executor | ID, death certificate |
| Notify CPA/tax preparer | Final tax return will be needed | Financial records |
1–6 Months
| Task | Details |
|---|---|
| Pay ongoing bills from estate funds | Mortgage, utilities, insurance (from estate account) |
| Inventory all assets and debts | List everything the deceased owned and owed |
| Appraise real estate and valuables | Needed for estate tax and distribution |
| Pay debts from estate (in order of priority) | Funeral costs → secured debts → taxes → unsecured debts |
| File final income tax return | Due April 15 of the year after death |
| File estate tax return (if needed) | Required if estate exceeds $13.99M (2026) |
| Distribute assets per will or state law | After debts are paid and creditor period expires |
| Close estate accounts | Once all distributions are complete |
Key Financial Accounts to Notify
| Institution | What Happens |
|---|---|
| Social Security | Stop benefits; claim survivor benefits |
| Banks (checking/savings) | Freeze account until executor appointed |
| Investment/brokerage | Transfer to beneficiaries or estate |
| Retirement accounts (IRA, 401k) | Transfer per beneficiary designation |
| Life insurance | Pay death benefit to beneficiary |
| Mortgage company | Heirs can assume or sell property |
| Credit card companies | Close accounts; debt paid from estate |
| Auto loan | Continue paying or surrender vehicle |
| Student loans (federal) | Discharged (forgiven) |
| Student loans (private) | Varies — check terms for death discharge |
| Employer | Final paycheck, unused PTO, benefits |
| Health insurance | COBRA for dependents (up to 36 months) |
| Utility companies | Transfer name or close account |
What NOT to Do
| Don’t Do This | Why |
|---|---|
| Don’t pay deceased’s debts from your money | You’re generally not responsible (exceptions here) |
| Don’t distribute assets before debts are paid | Executor can be personally liable |
| Don’t throw away financial documents | Keep for 7+ years for tax purposes |
| Don’t ignore bills on the home | Property taxes, insurance, mortgage — protect the asset |
| Don’t sign anything from debt collectors | They may try to trick you into accepting liability |
| Don’t delay on life insurance claims | Some policies have time limits |
| Don’t skip the credit freeze | Identity theft of deceased individuals is extremely common |
Costs of Settling an Estate
| Expense | Typical Cost |
|---|---|
| Death certificates (10–15) | $50–$375 |
| Funeral/burial | $7,000–$12,000 |
| Probate court fees | $200–$1,000 |
| Attorney fees (if needed) | $2,000–$10,000+ |
| Executor fees (if non-family) | 2–5% of estate value |
| Appraisals | $300–$500 per property |
| Tax preparation (final return) | $300–$1,000 |
Bottom Line
The most important things: secure documents, get death certificates, file insurance claims, and freeze credit. Everything else can wait a few weeks. Don’t pay any debts from your personal funds — debts are the estate’s responsibility. If the estate is complex, hire a probate attorney. If it’s simple with named beneficiaries on all accounts, you may be able to handle it yourself.
For related guides, see what happens to debt when you die, estate planning basics, and inheritance guide.
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy