5 Non-Financial Tasks to Complete After the Loss of a Loved One

The loss of a loved one often leaves survivors with feelings of overwhelming sadness and numerous loose ends to tie up. Amidst intense waves of grief, non-financial tasks are especially easy to overlook. However, neglecting them may affect the healing process for grieving families. 

Here are five actions surviving relatives should take after the loss of a loved one. 

1. Remove the deceased loved one’s digital identity from social media.

Inactive accounts can be misused by scammers to steal the deceased's identity, which could affect the financial interests of their heirs. Additionally, these accounts could generate unexpected reminders for friends and family, causing emotional distress.

Begin by reaching out to the social media platform to understand how to close the account. The process may differ across platforms, so be prepared to provide documentation, such as a death certificate or power of attorney documents, to verify your authority to make the request.

Some families may prefer to memorialize the account to keep the memory of their loved ones alive through posts and images, instead of deleting it. Memorialization allows posts and images to remain while preventing anyone from logging into the account. If the deceased appointed a legacy contact with the platform, this individual may be able to make limited changes to the account.

2. Remove the deceased loved one’s digital identity from email accounts.

Like social media accounts, email accounts that remain active after a loved one's passing could also be vulnerable to identity theft. If you do not have the username and password, you should contact the email service provider for instructions on accessing the account. Be ready to prove your relationship to the deceased account holder.

3. Remove the deceased loved one’s digital identity from a dependent’s financial aid applications.

If the dependent included the loved one’s financial information on the Free Application for Federal Student Aid (FAFSA) or another financial aid application, removing them might positively affect their eligibility.

Consider this scenario:

John began college last fall. His father passed away the following January, leaving John's mother as the sole provider. 

John’s mother requested that John’s father be removed from his FAFSA application. The financial aid counselor advised that they could remove his father’s financial information if she or John provided a copy of the death certificate. Once processed, the college re-evaluated John’s financial aid package without considering his deceased father’s income and assets.

As a result, John received an increased amount of need-based grants for tuition and expenses.

4. Remove the deceased loved one as a beneficiary on affected accounts.

If the deceased was listed as a beneficiary on a life insurance policy or another financial account, updating this to a living beneficiary would ensure an efficient asset transfer later.

For instance, if your spouse was the primary beneficiary on your individual retirement account and has passed away, contact an account manager to replace them with a new beneficiary, such as your child or another relative. When you pass away, the new beneficiary should receive the funds in your retirement account without any issues.

5. Add an annual calendar reminder to perform an unclaimed property search.

Even after you've finalized the estate, other assets like dormant bank accounts, uncashed paychecks, and more could still require your attention. If not claimed, these assets are turned over to the state. Visit missingmoney.com to search for unclaimed property using the deceased's full name.

You will need the death certificate or another form of acceptable documentation to file a successful claim. Since new unclaimed property is added to websites at least annually, consider marking your calendar to check back at least once a year.

Completing these crucial tasks soon after the loved one’s passing could help protect their estate and legacy. 

NOTE: This article is for informational purposes only. Please speak with a qualified attorney or tax advisor for assistance with additional actions you may need to take based on your specific situation.