Securing a Deceased Person’s Assets Before Probate

Probate is stressful not because it differs much from the financial and administrative tasks you do on behalf of yourself and your spouse, but because you must manage a recently deceased person’s financial affairs in addition to your own.  In other words, the problem is that there simply are not enough hours in a day.  You must prepare the estate’s tax return in addition to your own, for example.  Unfortunately, the stress starts even before probate begins.  There are other time sensitive matters that you must handle before the estate even gets to probate court.  To avoid financial losses, there are some time sensitive matters that you must address before the guests even arrive for the funeral.  Certain assets of the decedent are most vulnerable to theft immediately after the person dies.  To find out more about preventing financial crimes against recently deceased people, contact a Dade City estate planning lawyer.

Preventing Breaches of the Decedent’s Devices and Online Accounts

Your own estate planning strategy probably accounts for your digital estate, meaning your online accounts and the content you have posted online.  Your durable power of attorney  probably mentions who should inherit these and what the beneficiary should do with them.  Apple now even lets you name a successor for your Apple account, so that your spouse, child, or anyone else you choose can inherit and close the account from you.

Not everyone is as digitally savvy as you are, though.  Your parents probably have their passwords written on a piece of paper in the drawer of the computer desk.  When an old school computer user dies, keep the password list in your possession, so that no one can breach the decedent’s devices and steal financial information.

Protecting the Decedent’s House

Vacant houses are also easy prey for burglars.  Whether you plan to sell the house during probate or transfer it to a beneficiary of a will or trust, do not leave the decedent’s house unattended.  You or another family member should visit the house frequently, and you should install an alarm system if the house does not already have one.

Stopping Social Security Fraud Before It Starts

One of the most efficient ways to commit financial crimes is by stealing the victim’s Social Security number.  Thieves can easily open new accounts in a deceased person’s name by taking the Social Security number and using it before the Social Security Administration finds out that the person to whom it issued that Social Security number is dead.  The coroner’s office reports deaths to the Social Security Administration, but it is not especially quick at doing this; sometimes it takes a whole month, which leaves plenty of time for identity thieves to strike.  To avoid this problem, you should notify the Social Security Administration of the death promptly.

Contact a Florida Estate Planning Attorney About Preventing Posthumous Financial Crime

A probate attorney can help you manage a deceased family member’s finances before and during probate.  Contact The Law Office of Laurie R. Chane in Dade City, Florida to discuss your case.

Source:

msn.com/en-us/news/technology/5-non-obvious-things-you-must-do-quickly-when-a-loved-one-dies/ar-AA1u0QFu?ocid=msedgntp&pc=ACTS&cvid=8bf20181f7694c2ebf9398a24fefdba8&ei=19