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Navigating Loss: Essential Steps to Manage Accounts and Financial Affairs After a Loved One's Passing

Jessica Tillery

A Compassionate Guide to Financial and Digital Account Management During Grief


We know just how much losing a loved one is an emotionally devastating experience. While grief is different for everyone, we have walked through this process first hand. Amidst intense grief, there are still crucial practical steps you must take to protect your loved one's legacy and secure their financial affairs. Most of these steps have to happen immediately. 


We’ve prepared a comprehensive guide below that walks you through the critical actions to take in the first 24 hours, 48 hours, first week, and first month after a loss. Lean on us to walk you through this, so you can spend more time grieving, crying and taking care of yourself during this unpredictable time. 



Immediate Actions: First 24 Hours


Emotional and Practical Prioritization

  • Contact immediate family members and friends 

  • Ensure the executor is the primary point of contact for legal and financial matters

  • High-level review of the documentation and legal files left behind in Deadbook


Critical Financial First Steps

  • Secure Valuables: Remove any jewelry or sensitive information from the home and put it in a safe box or bring it back home with you to store in a secure location

  • Initial Financial Protection:

    • Contact bank to prevent unauthorized transactions

    • Freeze credit cards through the passwords left behind

      • If no passwords were left behind, call the credit card company and ask to place a death notice 

    • Begin protecting against potential identity theft by freezing 

  • Notify Employer and Insurance Company: It is critical to notify the boss or employer about the death and ask if they can help notify any insurance policies held through the employer. Claim processes can vary depending on the policy and provider.


Urgent Digital and Financial Management: First 48 Hours


Account Security

  • Digital Account Inventory: Ensure you have access or information for: 

    • Email accounts

    • Social media profiles

    • Financial and bank websites

    • Cloud storage services

  • Digital Estate Management:

    • Begin process of memorializing or closing social media accounts

      • Platforms like Facebook and Instagram allow memorialization, but each platform has specific procedures, and not all platforms offer this option.

      • If you aren’t ready to close the platform yet and have access, you can post a notification about the loved ones passing and begin to save any photos. 

    • Change the passwords for any emails and setup forwarding to the executor 

    • Change the passwords for any bank and financial accounts

      • If you haven’t already called their financial advisor, do so asap and request that they freeze all accounts 

  • What if they didn’t leave passwords?

    • Start by checking to see if they have a password storage account anywhere and get in contact 

    • If you have access to their email via their phone or computer, try the reset password prompt

    • If you’re still at a loss, you can reach out to the companies directly but they will require a death certificate which could take weeks and sometimes even months 


Financial Institution Notifications

  • Contact primary bank to:

    • Notify of death

    • Understand joint account implications

    • Prevent unauthorized transactions

  • Request multiple death certificates (10-15 copies recommended)

    • The exact number needed can vary based on individual circumstances, but multiple copies are often required for insurance claims, bank accounts, and other official matters.


First Month: Comprehensive Financial and Legal Management


Legal and Financial To-Dos

  • Probate Initiation:

    • Review will or trust in depth

    • Initiating probate by contacting an estate attorney after locating the will is a common step. However, not all estates require probate—this depends on state laws and the presence of a trust or jointly-owned assets.

    • If they didn’t leave a will or trust, the court will appoint an administrator

  • Notify Government Institutions of Passing:

    • Social Security Administration

    • Medicare/Medicaid

    • Veterans Affairs (if applicable)


Financial Account Management

  • Insurance and Benefit Claims:

    • Life insurance policy claims

    • Employer benefits

    • Retirement account notifications

  • Contact a CPA or Tax Professional 

    • You’ll need a tax professional to help with the estate taxes

    • You’ll also need them to handle the deceased taxes from the previous year 


First Year: Comprehensive Settlement and Transition


Detailed Financial Review

  • Complete Account Closure:

    • Close unnecessary credit cards

    • Transfer or close bank accounts

    • Update beneficiary information

  • Tax Considerations:

    • Obtain final tax documents

    • Consult tax professional about estate tax implications


Ongoing Digital Legacy Management

  • Final Digital Account Management:

    • Complete closure of unnecessary online accounts

    • Transfer meaningful digital assets

    • Secure family photos and digital memories


Additional Resources


Disclaimer: This guide provides general information. All this information should be stored in Deadbook if the deceased used it as a source. If not, we recommend contacting an estate planning attorney. 

grief management, financial affairs after death, digital estate planning, account closure, identity protection, estate management

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