The death of a spouse is a devastating time in your life. Not only are you dealing with grief, but there are many things that need to be taken care of. The advisers at Numerico can ease your stress. They will help you take care of the important steps that come with the death of a spouse.

Death Of A Spouse – Collecting Paper Work

You will need to have several copies of the death certificate. You can request these from the county health department. There is a small fee for these. Collect the deceased’s birth certificate, driver’s license or ID card.  Also catalog insurance policies, military papers, marriage certificate and children’s birth certificates. Make sure you have any will or estate paperwork and benefit documentation.

Death Of A Spouse – Jumping Into Action

Meet with any professionals that will help you with the actions you need to take. Numerico is armed with capable advisers to make sure things go as smoothly as possible. Make a complete list of all of your spouse’s property. This includes real estate, stocks, bonds, bank accounts, credit cards, personal property, land titles, certificates and any other papers.

Check into survivor’s, social security, veteran and life insurance benefits. File these claims as soon as possible. Many of these processes take time. If the deceased was already receiving social security benefits, do not deposit any checks received after death before checking with the social security department. When applying for Social Security benefits, have available birth and death certificates. You may also need your marriage, birth certificates of any dependent children and social security numbers. Have a copy of your spouse’s most recent income tax return.

There are different taxes that will need to be paid. Numerico’s tax planners can advise you on how to best proceed. Federal estate tax is generally only due on qualified estates, and these vary. Seek council on federal estate tax. State laws vary, but generally any estate which pays a federal estate tax must also file a state estate or death tax form. You may also need to pay the state death tax. This amount is paid by the estate to the state in which the deceased lived. Currently Michigan does not collect a state estate tax.

You may also need to transfer ownership or change titles of property. Some examples are insurance policies, automobiles titles, credit cards and bank accounts. You also need to make sure to update your own will or estate plan. These things can be hard in your time of sorrow, but they are real matters that need to be attended to. The team at Numerico are experts in every aspect of estate planning. The know the actions that need to be taken when a spouse passes. Let Numerico be your go-to resource for taking care of each financial aspect of the death of your spouse.

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