Three Reasons to Act Promptly After a Loved One Dies

No amount of preparation can take away the grief that you feel after a loved one passes away. At Grabitske Law Firm, we understand that this is a difficult time and it can be challenging to make good business decisions while you are mourning. However, we also understand the potential stress and difficulties that you can save by acting promptly after a loved one dies.

If your loved one had an estate plan, that means they made arrangements for how their assets should be handled after they die. If they did not create an estate plan, there are some matters that need to be addressed promptly. 

1. Care of minor children

If the person who died had minor children, guardianship of those children needs to be promptly addressed.  Guardianship of children can be who takes care of them in the short term and for the long term. Ideally, this will have been planned for by the decedent before he or she passed away.  If there is no plan, someone needs to act promptly to make sure that there is someone who can fulfill all the parental roles for the children, such as making health care and educational decisions for minor children.

2. Real estate and insurance coverage

Real estate passing outside of probate through vehicles such as a Transfer on Death Deed may create gaps in insurance coverage after a death.  Losses that may otherwise be covered by insurance may not be covered if the heirs do not promptly act to transfer title and address insurance coverage on the real estate.

3. Claims for family.

Minnesota law provides rights to a family allowance and certain claims for the surviving spouse and children.  Those rights are listed as claims and are subject to statutory deadlines.  Failing to act to pursue those rights may cause them to be lost; and money that may have otherwise gone to family could be exposed to creditors.

Who can help?

If you have questions about what needs to happen after a person passes away, you need to contact an experienced and knowledgeable estate planning attorney. Grabitske Law Firm can help. We encourage you to contact us today!.