If your loved one passed as a result of a work-related injury or illness, a workers' compensation policy may cover medical bills, funeral and burial expenses, and provide financial support to the family.
Read MoreYou will need to fund the estate account with all of the deceased person's accounts. You will want to add all of the funds besides "payable on death" and joint tenancy accounts to the estate account.
Read MoreLosing a loved one can create urgent financial issues and raise many questions. You may want to consult a professional financial advisor to understand your financial picture, resolve issues, and come up with a financial plan for the future.
Read MoreMedicaid collects “estate recovery” after the person passes away to “pay back” the costs paid out. This means that you won’t get any remaining assets of the deceased.
Read MoreWhich debts the estate needs to pay, and in which order, depend on the state and whether the estate has more money than is owed or not. You are likely not personally liable.
Read MoreUsually, funeral home bills are the second thing that you are required to pay from the estate. If there isn't enough money, the funeral home may make you agree to pay it yourself.
Read MoreUsually, medical bills are the first that you are required to pay. We know this can be really frustrating.
Read MoreYou need to pay out and close any existing credit cards the deceased person had. This can also cancel existing subscriptions, so double-check that you want to cancel these first.
Read MoreIf the deceased person had a pension, survivors may be entitled to monthly or lump sum payments. The plan may also make a payment if the death occurred before the deceased drew from their pension.
Read MoreCollect life insurance or annuity benefits if the deceased person had a policy. This may be a benefit that goes the estate or to an individual beneficiary.
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