Intermediate Financial Planning After The Death of a Spouse

Hi,
Now that basic survival needs have been met and the household can function, trusted friends can initiate contacts with:
1) Life Insurance-
The life insurance company needs to be contacted to find out what steps need to be taken to obtain the funds from the policy and the expected date of disbursement.
2)Brokerage Firms-
When calling a brokerage firm, ask if there is a broker of record and request to speak to him or her. Ask that a copy of the most recent brokerage statement be sent to the surviving spouse. If the brokerage account is not a joint account, ask what steps need to be taken for the spouse to access the funds in the account. Most brokerage firms freeze accounts in the event of the death of the primary account holder. If the account is a joint account, do not make any immediate decisions to sell anything on the advice of the broker during the phone call. This is an information gathering call and it is wise to keep it as such.
3)Credit cards-
A trusted friend should contact all the companies which issued credit cards to the deceased. Inquire as to whether any life insurance was included in their particular contracts. Some credit card companies have policies for accidental death, but do not for life insurance. If a policy is discovered, obtain the pertinent information needed to access the funds.
4) Safety Deposit Box
Banks have different procedures for gaining access to safety deposit boxes after a death. Have a friend inquire about the procedure to allow the surviving spouse access to the safety deposit box.
Tomorrow I will discuss steps to create a financial plan for the future.
Until then,
Alan