A Guide for Beneficiaries
We deeply apologize that you have found yourself on our beneficiary assistance page. We understand that this is a difficult and stressful time for you. However, we hope that the information provided will help you navigate through this process with more ease. There are many decisions that need to be made, so we recommend seeking the advice of a trusted advisor. Additionally, consider delegating some of the tasks to those who are willing and able to assist you.
Where do I start?
There are some urgent tasks that require your immediate attention, such as making funeral arrangements. However, there are also some tasks that can be done after the funeral. To complete the final arrangements, it would be helpful to have the following documents available.
Death certificates (at least a dozen) You will need to get at least a dozen certified copies of the death certificate. These are available from the funeral director or the county health department. This legal document is needed to finalize almost every aspect of your loved one’s affairs. Note: A photocopy is not enough because it lacks the raised registrar’s seal, which makes the certificate valid.
Social Security card
Marriage certificate (available from the county clerk where the marriage license was issued)
Birth certificate
Birth certificates for any children (available at either the state or county public records office where the person was born)
Insurance policies
Deeds and titles to property (including real estate, stocks, bonds, bank accounts, deeds, personal property)
Automobile title and registration papers
Stock certificates
Bank passbooks
Honorable discharge papers for a veteran and/or VA claim number. If you cannot find a copy, contact the National Personnel Records Center by mail at 1 Archives Dr., St. Louis, Missouri 63138 or by phone at 314-801-0800.
Recent income tax forms and W-2 forms
Loan and installment payment books and contracts
Planning the funeral
If your loved one has not made any prior arrangements, you should gather key family members and seek the assistance of a funeral director who can guide you through the planning process.Some things to consider:
What were the deceased wishes?
What can you afford?
What’s realistic?
What will help the family the most?
The cost of a funeral typically ranges between $7,000 to $10,000. Sometimes, the funeral director may ask for a part of the death benefit from the deceased's life insurance policy to be assigned to the funeral home. For this purpose, the beneficiary will be required to sign an assignment form. This form will ensure that the funeral expenses are adequately covered by the death benefit.
Checklist of things to do
Consult a lawyer. If you need legal advice on probating a deceased will, it is important to understand that probate is a court-supervised process of paying the debts of the deceased and distributing their estate to the beneficiaries. However, it's worth noting that jointly owned property, assets held in trust, and those with a designated beneficiary such as life insurance, 401(k) and pensions do not go through the probate process. In the event that the deceased did not leave a will behind, the state laws will determine how their property will be distributed. In such a case, the court will appoint a personal representative to handle the affairs of the deceased.
Contact the deceased’s employer promptly. Many individuals are usually covered by group insurance through their workplace. It is recommended that you inquire about the benefits that you are entitled to and the process of filing a claim. Additionally, you may also want to ask about other benefits such as pension fund, accrued vacation and sick pay, terminal pay allowances, gratuity payments, service recognition awards, unpaid commissions, disability income, and credit union balances.
Locate important papers. Search for any valuable items in secure locations such as safe deposit boxes, briefcases, strongboxes, home and office desks, lockers, safes, and similar secure storage options.
Contact life insurance companies. If you need to file for life insurance benefits, you can request claim forms and instructions from the insurance company. It's important to remember that you don't have to make an immediate decision about how to receive the benefits. Take time to analyze your financial situation and seek advice from your financial advisors. You can ask the insurance company to give you a certain amount of money now and hold the remaining amount (which will draw interest) for you. This way, you can withdraw any amount you need at any time. You can also ask about other settlement options that may be available to you.
Notify Social Security. Social Security benefits are not paid automatically, so you must apply for them. If the person who passed away had paid into Social Security for at least 40 quarters, a death benefit of $255 may be available to cover burial expenses, as well as survivor benefits. To apply for survivor's benefits, please call 1-800-772-1213.
Gather the deceased’s current bills and notify creditors.
Notify banks where the deceased had accounts.
Sources for possible additional benefits
Employer Ask about pension fund benefits, accrued vacation and sick pay, terminal pay allowances, gratuity payments, service recognition awards, unpaid commissions, disability income, and credit union balances.
Former employer
Credit life insurance Some loans, mortgages, and credit cards are covered by credit life insurance which pay off account balances.
Health insurance company
Fraternal and civic organizations
U.S. Department of Veteran Affairs (DVA) If the deceased was receiving monthly payments, notify the DVA of the death. If the deceased was a veteran who received an honorable discharge, survivors may get $300 toward funeral expenses and $150 for burial costs. Burial in a national cemetery is free to a veteran, spouse, and dependent children. Veterans are also eligible for a headstone or grave marker. The surviving spouse and children of disabled veterans may also be entitled to a lump sum death benefit or monthly payments for educational assistance and medical care. The funeral director’s request is usually sufficient to alert the DVA insurance division, which then sends out a claim form. To contact the U.S. Department of Veterans Affairs, call 1-800-669-8477.
Other reminders
Update property, auto, and life insurance policies to reflect changes in ownership.
Obtain a new title for the deceased’s auto. Contact your state motor vehicle department.
Change beneficiary designations on life insurance policies where the deceased was the named beneficiary.
Change beneficiaries on pension and retirement plans. Change names on bank accounts and investment accounts.
