Wealth Management CPAs is dedicated to guiding you through the loss in your life.

Death of a Loved One

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Death is one of life's most difficult milestones
There are numerous financial, tax, and legal issues that need to be addressed after the loss of a loved one
We restore a measure of peace by simplifying complex death-related questions
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Relevant Resources

Our firm can help you...

Protect your loved one's estate from long-term care expenses

Avoid being forced to sell your assets or surrender your money to Medicaid

Avoid being taxed on your social security benefits

Learn when you should not put your children on your bank accounts and property titles

Understand why a living trust may be more effective than a regular will, and why you may need one

Discover the pitfalls of probate and the steps you can take to avoid it

Frequently Asked Questions

Get death certificates. Probate the estate by first finding the will and trust documents and identifying the decision-making executor. If no will or trust exists, refer to state law providing for lawful division of the estate. During your free consultation we’ll show you how to rename property deeds. Transfer trusts to the beneficiary. File claims for life insurance policies. Transfer vehicle titles. Change bank account ownership. Close credit card accounts. Notify the social security office. Cancel insurance policies. Notify pension funds. Transfer retirement accounts to beneficiaries. Identify and pay important bills. File final tax returns for individual and trust. The list is long, the worries don’t need to be.

Prepare now for your financial life after the death of a loved one. Be knowledgable about your household finances. Get legal documents in order. Create a “just in case of death” file with estate documents, wills, trust, and power of attorney etc. and make sure a trusted third party has access to it. As part of our free consultation we’ll analyze all of the financial, tax, and legal changes that come with the loss of a loved one and provide you with a secure, accurate outlook for your future.

File a death claim with your insurance company by submitting a certified copy of the death certificate. Most states allow 30 days for the insurer to review the claim, after which they can deny it, pay it out, or ask for more information. A claim rarely takes more than 60 days after death to be paid. If the claim is straightforward, and the paperwork is in order, claims can be paid in about  10 to 14 days. Borrowing money from your policy, while living, may be tax free. In your complimentary consultation, we’ll explain the process of filing life insurance claims and outline investment options to secure your financial future.

If you’re at least 60 years old but not at social security’s definition of Full Retirement Age, you still qualify for 77% to 99% of your deceased spouse’s benefits as part of the social security’s survivor insurance program. At the death of a loved one, pension benefits are generally paid out based on how you set up your pension at the time of origination. Income taxes are generally owed on any pension payments received. During our free consultation we make sure your social security and pension funds are notified to prevent repayment obligations, ensure you receive the largest payment from both, and limit any tax liability.

If a loved one dies without a will it means they have died “intestate” and your property will be distributed according to the laws of the state. This includes bank accounts, property, securities, real estate, and any other assets. When we meet we check to ensure that your property deeds, vehicle titles, retirement and bank accounts, are transferred to the name of the beneficiaries.

Death of A Loved One

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