Settled Estate

Institution transfer guides

Notifying and transferring with common institutions

Settling an estate means telling a lot of organizations that someone has died and then moving each account into the right hands. Here is what to do, and what to have ready, for the ones almost every family has to deal with.

Social Security AdministrationReport the death so benefits stop, and check whether a survivor or one-time death payment applies.4 steps

Steps to take

  1. Report the death as soon as you can. A funeral home will often report it for you if you give them the deceased's Social Security number, but confirm that they did.
  2. If you need to report it yourself, contact the Social Security Administration directly rather than trying to do it online.
  3. Return any benefit payment for the month of death or later, because Social Security does not pay benefits for the month in which a person dies.
  4. Ask whether a surviving spouse or a dependent child qualifies for survivor benefits or the one-time lump-sum death payment.

What to have ready

  • The deceased's Social Security number
  • A certified copy of the death certificate
  • Your own identification, and proof of the relationship if you are the surviving spouse

Survivor benefit amounts and eligibility depend on the family's situation. Confirm what applies with Social Security directly. This is general information, not legal or financial advice.

Official site: ssa.gov

IRS (federal taxes)A final income tax return is usually still owed for the year of death, and the estate itself may need its own tax filings.4 steps

Steps to take

  1. Plan to file a final individual income tax return covering income from the start of the year through the date of death.
  2. If the estate earns income during administration, such as interest, dividends, or rent, the estate may need its own taxpayer identification number and a separate return.
  3. Gather the deceased's prior-year returns and current-year tax documents so the final return can be prepared.
  4. Consider working with a tax professional if the estate is large or has ongoing income.

What to have ready

  • The deceased's Social Security number
  • A certified copy of the death certificate
  • The court document naming you as executor or administrator
  • Recent tax returns and current-year income statements

Tax rules, thresholds, and deadlines change and depend on the estate. Confirm what applies with the IRS or a tax professional. This is general information, not tax or legal advice.

Official site: irs.gov

Banks and credit unionsNotify each bank to secure the accounts, then learn how the money is released based on how each account was titled.4 steps

Steps to take

  1. Contact every bank and credit union where the deceased held an account and tell them about the death.
  2. Ask how each account was titled. A joint account, a payable-on-death account, or an account with a named beneficiary usually passes outside probate, while a solo account usually does not.
  3. For accounts that are part of the estate, ask what the bank needs before it will release the funds to the estate.
  4. Keep accounts open until recurring deposits and payments are sorted out, then close them once the estate is settled.

What to have ready

  • A certified copy of the death certificate
  • The court document naming you as executor or administrator, often called letters testamentary or letters of administration
  • Your own identification
  • Account numbers, if you have them

Each institution sets its own paperwork requirements, and how an account passes depends on how it was titled. Confirm the specifics with the bank. This is general information, not legal advice.

DMV and vehicle titlingTransferring a vehicle title out of the deceased's name is handled by your state's motor vehicle agency.4 steps

Steps to take

  1. Locate the title, and any loan payoff information, for each vehicle.
  2. Contact your state's motor vehicle agency to ask which form transfers a title after death and whether the vehicle qualifies for a simplified transfer.
  3. Check whether the vehicle was titled jointly with survivorship or has a transfer-on-death beneficiary, either of which can pass it outside probate in some states.
  4. Keep the vehicle insured until the title is transferred or the vehicle is sold.

What to have ready

  • The vehicle title
  • A certified copy of the death certificate
  • The court document naming you as executor or administrator, if the state requires it
  • Your own identification

Vehicle transfer forms, fees, and whether a simplified process applies vary by state. Confirm the current process with your state's motor vehicle agency. This is general information, not legal advice.

USPS (mail forwarding)Forwarding or holding the deceased's mail keeps bills and account notices from being missed.3 steps

Steps to take

  1. Forward the deceased's mail to yourself or the executor so account statements and bills are not missed.
  2. Watch the incoming mail for bills, statements, and subscriptions that need to be closed or transferred.
  3. Opt the deceased out of unwanted marketing mail once the important accounts have been identified.

What to have ready

  • A certified copy of the death certificate
  • The court document naming you as executor or administrator
  • Your own identification and proof of your address

The Postal Service verifies who may redirect another person's mail. Confirm what it requires. This is general information, not legal advice.

Official site: usps.com

Credit bureausNotifying the credit bureaus flags the file as deceased and helps prevent identity theft.4 steps

Steps to take

  1. Send a notice of death to each of the three national credit bureaus, Equifax, Experian, and TransUnion, so the credit file is flagged as deceased.
  2. Ask each bureau to place a deceased alert on the file, which stops new credit from being opened in the deceased's name.
  3. Request a copy of the credit report to identify accounts, loans, and cards that still need to be closed.
  4. Watch for signs of identity theft, which can happen after a death.

What to have ready

  • A certified copy of the death certificate
  • The deceased's Social Security number and date of birth
  • The deceased's last known address
  • Proof that you are the executor or the surviving spouse

Each bureau has its own process and mailing address. Confirm the current steps with each one. This is general information, not legal advice.

Pension and retirement plansRetirement accounts and pensions usually pass to a named beneficiary, so contact each plan to claim or transfer the account.4 steps

Steps to take

  1. Contact the employer, plan administrator, or financial institution for each pension, 401(k), IRA, or annuity.
  2. Ask who the named beneficiary is. An account with a valid living beneficiary usually passes directly to that person, outside probate.
  3. If there is no living beneficiary, ask how the account is handled, because it may then become part of the estate.
  4. Ask about survivor options for a pension, which sometimes continues a reduced payment to a spouse.

What to have ready

  • A certified copy of the death certificate
  • The account or plan number
  • Your own identification
  • Proof that you are the beneficiary or the executor

Beneficiary rules and survivor options depend on each plan's terms and can carry tax consequences. Confirm the specifics with the plan administrator, and consider a tax professional. This is general information, not legal or financial advice.

Utilities and subscriptionsTransfer or close the deceased's utility and service accounts to stop charges and avoid interruptions.4 steps

Steps to take

  1. List the recurring service accounts: electricity, gas, water, internet, phone, and any streaming or subscription services.
  2. For a home someone still lives in, transfer the account into the new responsible person's name.
  3. For a home that is empty or being sold, decide whether to keep minimal service on for showings and upkeep or to close the account.
  4. Cancel subscriptions and memberships that are no longer needed, and ask about a refund for any prepaid service.

What to have ready

  • A certified copy of the death certificate
  • The account number for each service
  • Your own identification
  • The court document naming you as executor, if the company asks for it

Each provider sets its own requirements to change or close an account. Confirm what each one needs. This is general information, not legal advice.

Unsure what a term means? Read the plain-language probate glossary, or build your free step-by-step plan.

These are general, educational steps. Each institution sets its own requirements, and rules, dollar limits, and deadlines vary by state and change over time. Settled is an informational tool, not a law firm, and does not provide legal, tax, or financial advice. Confirm the specifics with each institution, and with an attorney or tax professional when the estate is large or complicated.