An event many of us may be unprepared to handle is the sudden death of a loved one. It is one of the most difficult events in life to deal with. It can be almost paralyzing. Unfortunately, most of us will inevitably have to go through it. If this happens to you or a close friend, here are some things that should be considered:
- Don’t procrastinate. Contact me (or another experienced estate planning attorney) immediately. Often, there are time-sensitive matters that need to be acted upon quickly.
- Locate your loved one’s estate planning documents. Ideally, they are in a safe or otherwise secure location.
- Notify the clergy and funeral home to make arrangements. Check the estate planning documents first; they might contain information about their last wishes related to their arrangements.
- Notify all immediate adult family members of your loved one’s passing.
- Do not spend or lend any large sums of money.
- Do not make any major business decisions or large purchases.
- Do not change the title to any assets, closeout, or roll over any financial accounts without consulting your estate planning attorney.
- Try not to engage or argue with family members about the distribution of assets at this time. All in good time once you’ve met with your estate planning attorney and fully understand the situation, with or without the benefit of a will and/or trust.
Of course, there will be many things to do, decisions to be made, and more. It will be a difficult time, but the better organized you are with the help of your estate planning attorney, the better your future outcomes will be.
If you are in this situation at this moment, let me extend my condolences. I will be happy to assist you. Visit my website or call me to schedule a meeting. Phone: 513-399-7526 Website: www.davidlefton.com.