What to Do When Someone Passes: 12-Step Financial Checklist

Losing someone you love is one of life’s hardest experiences. In addition to experiencing grief, you might also be the person who’s responsible for handling their money and legal matters.

If you’ve never had to do this before, figuring out all these financial tasks might feel a bit confusing. This easy-to-follow checklist will walk you through the most important financial steps to take now and in the weeks ahead so you can feel confident every step of the way.

Taking care of these money matters is a simple way to honor your loved one’s memory and help protect their legacy.

1. Get multiple certified copies of the death certificate

The death certificate is the most important document you’ll need when a loved one dies. Most organizations require a certified copy of the death certificate, not a photocopy, to make account changes or to process claims.

Order at least 10-15 certified copies from the funeral home, hospital or vital records office in the state where your loved one died. Banks, insurance companies, government agencies and other organizations typically each need their own certified copy.

The cost is usually between $5 and $34 per copy, depending on your state. You might be able to pay a rush fee to get copies faster if needed. Ordering all the copies you need at once might save time and money compared with ordering additional copies later.

2. Locate important financial and legal documents

Start gathering the paperwork that tells the story of your loved one’s financial life. Look for documents like:

• will, trust and estate planning documents
• bank and investment account statements
• insurance policies (life, health, auto, home)
• Social Security card and Medicare information
• tax returns from the past few years
• property deeds and vehicle titles
• birth certificate and marriage certificate

Check obvious places first, like their home office, a filing cabinet, a safe or a safety deposit box. Many people also keep important papers in a specific drawer or folder. If you can’t find everything right away, don’t worry. You can request copies of most documents as you work through the other steps.

“It’s important to locate key documents like wills, insurance policies and account statements early, because they’ll guide nearly every decision that follows,” says Thomas Racca, Manager of Personal Finance Management at Navy Federal Credit Union.

3. Contact banks and credit unions

One of the first financial steps after a loved one passes is to secure their accounts, Racca says. 

“That means notifying banks, credit unions and credit bureaus to prevent identity theft or unauthorized access,” he says.

You’ll need to provide a copy of the death certificate and may need to show proof that you have the legal right to access accounts. Banks typically freeze individual accounts to help protect them from unauthorized access. Joint accounts may remain accessible to the surviving account holder, but policies vary by institution.

Here are a few questions to answer:

• Which accounts can stay open and for how long?
• How do I access funds for immediate expenses?
• What documents will I need to provide to get access?
• What are the steps for transferring or closing accounts?

One of the most common oversights is digital assets, Racca says. “Things like online bank accounts, investment platforms or even cryptocurrency wallets often don’t leave a paper trail, so it’s important to ask about them and check email records or password managers for clues,” he says.

4. Secure credit cards and prevent identity theft

Contact credit card companies to cancel your loved one’s cards right away. This helps prevent anyone from using them without permission and stops new charges from building up. Check for outstanding balances on the cards and arrange for these debts to be paid or settled.

Keep records of which cards you’ve canceled and when. Some companies might ask for a death certificate. Others will accept your word over the phone and follow up with paperwork later.

Place a fraud alert with the 3 major credit bureaus (Equifax®, Experian® and TransUnion®). This makes it harder for someone to open new accounts using your loved one’s personal information.

5. Access safety deposit boxes

If your loved one had a safety deposit box, contact their financial institution to find out how to access it. You’ll usually need a death certificate and legal papers showing you have the right to open the box. 

Safety deposit boxes often contain important items like:

• original will or trust documents
• life insurance policies
• property deeds
• valuable jewelry or collectibles
• cash or savings bonds

Some states have specific rules about opening safety deposit boxes after someone dies. The financial institution will walk you through their process.

6. Contact life insurance companies

If your loved one had life insurance, contact the insurance company as soon as possible to start the claims process. You’ll need a death certificate and the policy number, if you have it.

Life insurance payouts can help cover funeral costs, outstanding debts and ongoing expenses for your family. Most companies try to process claims quickly, often within a few weeks of receiving all required documents. 

This is a good time to cancel any other insurance policies. Request a refund for any unused premium and confirm the end coverage date with the insurer.

If your loved one was Active Duty military or a Veteran, they may have had Servicemembers’ Group Life Insurance (SGLI) or Veterans’ Group Life Insurance (VGLI). Contact the VA at 1-800-419-1473 to file a claim.

7. Notify the Social Security Administration

Call Social Security at 1-800-772-1213 to report the death. If your loved one was receiving Social Security benefits, those payments will need to stop. The funeral home may handle this for you, but it’s worth calling to confirm.

If your loved one was married, their surviving spouse may be eligible for survivor benefits. The Social Security Administration can explain any death benefits that might be available and help you apply for them.

8. Handle employer benefits and final pay

Contact your loved one’s employer (or former employer if they were retired) and ask about:

• final paycheck and unused vacation time
• retirement account benefits (401(k), pension)
• health insurance coverage for surviving family members
• group life insurance policies
• any other relevant employee benefits

If your loved one served in the military, you also may need to contact the Department of Veterans Affairs about potential survivor benefits, including disability compensation for surviving spouses and children.

9. Review and cancel subscriptions and services

“People often forget to check for recurring payments, like subscriptions, utilities or automatic transfers that continue to draw from the deceased’s accounts,” Racca says. “Reviewing recent bank statements can help identify and stop these charges before they become a financial drain.”

Go through your loved one’s bank statements and look for monthly charges for services they no longer need. Cancel things like:

• streaming services and gym memberships
• magazine and newspaper subscriptions
• phone and internet services
• credit monitoring services
• automatic bill payments

You can keep essential services like utilities if you need access to the property. If you aren’t staying at their home, submit a request to the post office within a few days to have the mail forwarded to yourself, a family member or a friend.

10. Make arrangements to pay off debts

Your loved one’s debts don’t automatically disappear when they pass away. Most debts need to be paid from their estate before any money goes to beneficiaries. Family members usually aren’t personally responsible for these debts unless they co-signed for them.

Common debts include credit cards, medical bills, mortgages and personal loans. Contact each creditor to explain the situation and ask about their process for handling debts after death.

If the estate doesn’t have enough money to pay all the debts, state laws determine which debts get paid first. You don’t have to use your own money to pay these debts, but the estate may need to sell assets to cover them.

11. File the will and begin probate (if needed)

If your loved one had a will, you’ll need to file it with the probate court in the county where they lived. This is required even if you don’t think probate is necessary.

Probate is the legal process of settling someone’s estate. Not all estates need to go through probate. It depends on what assets they had and how those assets were owned. Small estates or assets with named beneficiaries often skip probate entirely.

If probate is required, the court will officially name an executor to handle the estate. This person is responsible for paying debts, filing tax returns and distributing assets according to the will.

“Many people don’t realize that certain accounts, like IRAs or life insurance policies, pass directly to named beneficiaries regardless of what a will says,” Racca says. “That’s why it’s critical to review and update those designations regularly, especially after major life events.”

12. Know when to get expert assistance

It can be challenging to know exactly what to do when someone dies. You don’t have to handle everything alone. Here are a few situations when it might be a good idea to get help from a professional:

• The estate is large or complex.
• There’s no will, or the will is confusing.
• Family members disagree about how to handle things.
• There are significant debts or tax issues.
• You feel overwhelmed by the legal requirements.

It’s OK to ask for help as you navigate your recent loss. An estate attorney can help with probate and legal questions. A financial advisor can help you manage investments and plan for the future. A tax professional can handle final tax returns and estate taxes if needed. These experts will help you get the peace of mind you need. 

Navy Federal is here when you need support

If your loved one was a Navy Federal member, we’re here to support you as you sort through important financial tasks during this difficult time. Our Survivor Support team understands the unique challenges military families face and can help you navigate account changes and benefit claims.

You can find survivor support resources designed for families dealing with loss and/or download our printable survivor checklist to keep track of important tasks. And, learn more about estate planning, creating a will and naming beneficiaries so you can plan for the future. 

“The best time to prepare for a loss is long before it happens,” Racca says. “Having a clear estate plan, including a will, power of attorney and beneficiary designations can save loved ones from confusion, delays and unnecessary expenses. It’s one of the most thoughtful financial gifts you can leave behind.”