There are certain practical matters you’ll need
to attend to after the death of a loved one.
A brief overview of these could include the following:
You have to have the original; the court won’t accept a copy. Then you’ll have to register the will at the local probate office.
Locate all the essential information about your loved one’s assets and liabilities: insurance policies, bank accounts, retirement accounts, investments and loans. You’ll need all these to manage upcoming transactions and to notify the financial providers.
This will help you handle retirement plan distributions, employer-purchased insurance payouts and ensure that any vacation pay due goes to beneficiaries.
Chances are good something will eventually arrive about an account or loan the deceased had, and there may be assets that aren’t even known to the family. Take the time to cancel magazine subscriptions, catalogs, and anything else arriving by mail regularly. And, after a time, be sure to check regularly with the NYS Comptroller's website for funds belonging to the deceased that may have been overlooked.
Don’t let anything get by you and slip into collections. Make sure you’ve arranged to wrap up any outstanding liabilities: the monthly utility bill, the mortgage, credit card bills, or car loans.
You will eventually have to send in federal and state income tax returns and possibly estate tax returns. It may benefit you to turn these tasks over to a certified accountant.
When things are really complex or if you’re just not comfortable handling an estate, you may want to bring in an estate attorney. At the very least, check in with one after you’ve completed what you can. We’d recommend telling them what you’ve done and asking them if you’ve missed anything along the way.