What to Do When a Loved One Dies

Dealing with the death of a friend or loved one is never easy, but when you add in the complications of dealing with their property and accounts, it becomes even more difficult. Below are some of the steps you’ll need to take should you find yourself in the position of being the closest relative or executor for someone who passes away.

  1. Notify others: You must let people know that the individual has passed away. This includes employers, friends, family members, clients, business partners, agents, accountants and other relevant parties. While it may seem easier to do this via social media, that might not be the best idea as it gives valuable information to potential identity thieves.
  2. Talk to a lawyer: A lawyer is going to be your most important guide through the process of dealing with the legal and financial ramifications of the death, so getting one immediately is important.
  3. Look for instructions: Many people leave behind information about how they want their funeral and burial to be conducted, whether they want to donate organs, who they want their property to go to and so on. Take some time initially to look for this information so you can make sure that the individual’s final wishes are carried out.
  4. Look for life insurance: The sooner you (or other beneficiaries) submit a life insurance claim, the sooner you’ll receive the payout which can be used to help pay estate expenses as well as funeral and burial costs.
  5. Pay certain bills: Debt and other financial obligations don’t necessarily disappear after someone dies, and businesses don’t always put bills on hold until probate is completed. Pay the bills due now for necessities such as utilities and rent or mortgage. Talk to the attorney about what other financial obligations should be paid right away and which should wait for the estate to settle.
  6. Close accounts: You will need to close or cancel the individual’s driver’s license, credit cards, memberships, and insurance policies (note that you will still need property insurance until assets are distributed). You’ll also need to notify relevant government agencies, such as Social Security. Your attorney will help you get any documentation you need to do this. Be sure to have multiple copies of the death certificate available, as you’ll need to send them in order to get accounts closed out. Be cautious when calling creditors because some creditors will try to get you to change the accounts into your name when you notify them of the death of the account owner. Be sure you do not assume any financial responsibility for any of the decedent’s bills, even if they are for a spouse, without consulting with an attorney first.
  7. Think about thieves: You need to not only secure the individual’s personal belongings and property but also their online presence- like social media and online accounts. It is important not to post a lot of personal information online about the deceased person because would-be thieves can use that information to steal identity. You can also consider requesting account restrictions from the credit reporting agencies.

At Kramer Wealth Managers, we can help you make sure that your financial affairs are in order, making it easier on your survivors. Contact us today to get started.

Adrianna Rocha

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Adrianna Rocha joined Kramer Wealth Managers in 2021.

Adrianna is responsible for client experiences and service. As part of the customer service team, she strives to help and provide top-notch service to our clients. As part of her role, she communicates with clients through videophone, schedules client meetings, prepares and processes forms, and gathers information for our advisors.

Adrianna Rocha graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017. Before she joined our team, she worked in the customer service industry for nearly a decade. She excels in human-to-human relations and takes pride in not only her own accomplishments, but her clients’ as well. Adrianna enjoys chatting about her slight obsession with dogs, houseplants, essential oils, and food: especially Mexican food! She is also a proud fur-mama to her beautiful Aussie-mixed pup, Ziva.

Adrianna is not registered with Osaic Wealth.

Adrianna Rocha

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Since joining Kramer Wealth Managers in 2021, Adrianna Rocha has been a client service dynamo, ensuring every client interaction is seamless and delightful. She’s the go-to guru for all things client experience, handling everything from videophone chats to scheduling meetings and processing forms with a smile. Her goal? To make sure every client feels valued and well-cared-for.

Adrianna graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017 and brings nearly a decade of customer service experience to our team. She thrives on personal connections, celebrating both her achievements and those of our clients. When she’s not busy at work, you might find her indulging in her passions—dogs, houseplants, essential oils, and the tantalizing flavors of Mexican cuisine. Proud fur-mama to her adorable Aussie mix, Ziva. Adrianna brings a touch of warmth and enthusiasm to everything she does.

Q: What’s your favorite part of working with clients?

A:  I enjoy client service because it allows me to help people and make a positive impact. Using my listening skills to understand client needs and solve problems is satisfying. I love turning negative experiences positive and the daily variety of challenges.

Adrianna is not registered with Osaic Wealth.

Jack Morley

Jack Morley

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
240-379-6909 FAX
info@kramerwealth.com

Jack Morley has been a vital part of the Kramer Wealth Managers team since 2010, starting with various projects and officially joining full-time in 2013. As our go-to Account Service Specialist, Jack is the friendly face and reliable voice who ensures a smooth client experience. He’s the linchpin in client communications, handling account maintenance and bridging connections between clients and our advisory team.

A 1998 graduate of Gallaudet University with a BA in Psychology, Jack brings a wealth of customer service experience from retail and human services. His handyman skills are a bonus, making him the resident problem-solver and DIY enthusiast. Outside the office, Jack enjoys long walks with his dog Bailey.

Married for 25 years to his wonderful wife, Monica, Jack is also the devoted dad to two dynamic daughters who keep him on his toes. When he’s not walking Bailey—he’s likely tinkering on a new project or spending quality time with his family.

Q: What’s your favorite part of working with clients?

A:  I enjoy assisting clients in maintaining their accounts and ensuring there is a smooth transition in between changes being made within their accounts.

Jack is not registered with Osaic Wealth.