Cynthia McLaganBy Cindy McLagan, EA

The overwhelming emotions you may experience after losing a loved one are difficult enough. Add in the task of handling their personal affairs, and the situation can begin to feel downright discouraging and intimidating. To help you through the process, I’ve assembled a list of tasks you can use as a checklist. Click for a printable checklist: Reference Guide – What to do when someone passes

This list is may seem extensive, but keep in mind: each situation is different. Some of these tasks cannot be completed until an executor or administrator has been appointed; some must be executed by an attorney or accounting professional. Often relatives, neighbors, and friends are anxious and ready to help, so take them up on their offer to help you complete some of these tasks and lighten your burden.

Within the first few days:

Notifications to send over the next few weeks:

Secure, gather, and protect assets over the next few months:

If you’re managing the estate:

Don’t forget about tax deadlines. Here is a list of the tax forms that may be required:

  1. Final 1040 for the decedent
  1. Form 706 U.S. Estate and Generation Skipping Transfer Tax Return (not always required)
  1. Form M706 Minnesota State Tax Return (if decedent was a Minnesota resident)
  1. Form 1041 – U.S. Income Tax Return for Estates and Trusts

We’re here to help.

If you have any questions or concerns about an estate or your next steps, our estate planning specialists and tax professionals are here to guide you through the process and answer any questions you may have. Contact us today.