Bills and Services to Cancel When a Loved One Dies
- Posted on: Apr 30 2024
Losing a loved one is an emotionally challenging experience, but amidst the grief and mourning, there are practical matters that must be addressed. One of the often-overlooked aspects of dealing with the aftermath of a loved one’s passing is managing their financial affairs. Settling the estate of your loved one can prove complicated. Here are the bills and services you should cancel when your loved one dies.
1. Utilities and Services
Upon the passing of a loved one, it’s essential to contact utility companies and service providers to cancel or transfer services. This may include electricity, water, gas, internet, cable, and phone services. Not only will canceling these services prevent unnecessary expenses, but it will also help streamline the estate settlement process.
2. Subscriptions and Memberships
Many individuals have various subscriptions and memberships, such as magazine subscriptions, gym memberships, streaming services, and club memberships. These recurring expenses should be canceled to avoid unnecessary charges. Be sure to review bank statements and credit card bills to identify and cancel any subscriptions or memberships in the deceased’s name.
3. Insurance Policies
Insurance policies, including life insurance, health insurance, auto insurance, and homeowners or renters’ insurance, should be reviewed and updated following a loved one’s passing. Contact insurance providers to cancel or transfer policies as needed. Additionally, be sure to notify the Social Security Administration and other relevant agencies to update beneficiary information.
4. Financial Accounts and Credit Cards
Financial accounts, including bank accounts, investment accounts, and credit cards, should be addressed promptly after a loved one’s passing. Close or transfer accounts as necessary, and notify financial institutions and credit card companies of the individual’s death. This will help prevent identity theft and unauthorized use of accounts.
5. Subsidized Benefits
If the deceased was receiving subsidized benefits such as Social Security benefits, Medicare, Medicaid, or housing assistance, it’s essential to notify the appropriate agencies of their passing. Failure to do so promptly could result in overpayments or other complications.
6. Rental Agreements and Leases
If the deceased was renting a property, review the rental agreement or lease to determine the necessary steps for termination. Contact the landlord or property management company to notify them of the individual’s passing and make arrangements to terminate the lease or rental agreement.
7. Estate Planning Documents
Finally, it’s crucial to review and update estate planning documents such as wills, trusts, and powers of attorney following a loved one’s passing. Consult with a qualified attorney to ensure that the deceased’s wishes are carried out and that the estate is settled in accordance with applicable laws and regulations.
The Law Offices of Brian L. Fox, APLC Help those in CA Who Have Lost a Loved One
Navigating the legal and financial matters that arise following the death of a loved one can be overwhelming. An experienced California attorney can provide compassionate guidance and expert legal assistance to help you navigate this challenging time.At the Law Offices of Brian L. Fox, APLC, we know how challenging this time can be. That’s why we’ll help you to take care of things that can make your life easier. To learn more or to schedule a free consultation, contact us today!
Posted in: Estate Planning
