Notifying Creditors and Government Agencies
While the order of notifications you make will depend on your personal situation, it's essential that you stick to the following notification process and keep thorough records of all notifications you make. That should be your #1 priority!
A 4-Step Notification Process
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Initially make the contact by telephone.
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Follow-up with written verification.
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Mail all written verifications via registered mail with signature confirmation required.
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Retain copies of all notices that you send with the related postal tracking/signature information attached.
For many government agencies and financial entities, you will need a certified copy of the death certificate, your loved one’s social security / social insurance number, and, if you are the executor of the estate, a copy of the appointment form from the probate court.
All creditors should be notified promptly following a death. If there is to be a delay in meeting debts or installment payments, you may be able to file for extensions. Many creditors are sympathetic to these situations and are willing to grant your requests. If credit insurance or mortgage insurance policies were in force, purchases made on credit (vehicles, furniture, etc.) or the home mortgage may be paid off by the insurance. Ask your lending institution.
Also, notify the major credit reporting agencies including Experian, Equifax, and TransUnion. Instruct them to list all accounts as: “Closed. Account Holder is Deceased.” You may also request a credit report to obtain a list of all creditors and to review recent credit activities.
Various government agencies should also be contacted.
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Veteran’s Administration, if your loved one served in the military.
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Defense Finance and Accounting Service, if the deceased was a military service retiree receiving benefits.
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Office of Personnel Management, if they were a retired or former federal civil service employee.
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U.S. / Canadian Citizenship and Immigration Service, if your loved one was not a U.S. / Canadian citizen.
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Department of Motor Vehicles, if decedent had a driver’s license or I.D. card.
Did your loved one belong to any clubs, associations, and social groups?
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Professional associations and unions
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Health clubs and athletic clubs
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Automobile clubs
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Video rental stores
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Public library
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School alumni clubs
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Rotary, Kiwanis, Lions, veterans’ organizations and clubs
All online accounts should be closed. While there are companies that help you keep track of all your digital assets including passwords and other login details, your loved one may not have subscribed to any of their services. Here’s a brief overview of some digital realms you should monitor and eventually close:
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Email accounts
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Facebook
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Twitter
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LinkedIn
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You Tube
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Blogging accounts
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Online banking or investment portals
Dealing with the Flotsam and Jetsam Left Behind
If you've never heard these terms, flotsam is “part of the wreckage of a ship or its cargo as is found floating on the surface of the sea” and jetsam is “the throwing of goods overboard,” or "goods thrown overboard to lighten the load of a distressed ship." Both terms used together usually refer to odds and ends.
When someone dies, they unintentionally leave behind odds and ends that need to be tended, retrieved, and managed by their loved ones. Unfortunately, very few of us are prepared for what is often a huge task. Our advice is simple. Take care of the important financial details first and then work your way down to those that won’t truly impact your day-to-day welfare.
Should you need to speak with someone accustomed to helping out in these situations, please call us. Our Aftercare Specialists can advise you or refer you to an attorney.
