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Financial Information


Financial and Credit Obligations

You will want to gather all of the bills together and make sure you are aware of all the credit obligations of the deceased. Many installment loans, service contracts, and credit card accounts are covered by credit life insurance, which pays off the account balance in the event of the death of the customer. You should contact any financial institution where the deceased had a loan and inform them of the death. They will be able to inform you if the loan was covered by credit life and what needs to be done to file the appropriate claim. A death certificate is often required. You will also want to contact credit card companies to notify them of the death. If the card is held jointly, find out what documentation is required to change cards into the survivor's name. Ask the credit bureau to assist you in transferring your spouse's credit into your name. They may also be able to assist you in determining any outstanding obligations of the deceased. Make a prompt request for release from each bank in which the deceased and you held a joint account. This is necessary before you can withdraw funds from that account. A bank will usually stop payment on all checks as soon as a death notice is published. The bank must also have the account cleared by the state tax authorities.

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In this section

Bereavement Information

Financial Information

Life Insurance Information

Probate a Will

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