What to Do Immediately after a Parent Dies?- When a parent dies, adult children need to manage time-sensitive tasks, such as securing bank accounts, paying bills and preparing to address estate matters. A recent MSN article, “Efficient estate planning after the passing of a parent,” outlines the steps in detail.
First, obtain multiple certified copies of the death certificate. These will be needed to close accounts, claim benefits and handle insurance matters. Next, find any documents pertaining to funeral or memorial services. If no pre-planning has been done, the family will need to meet with a funeral home and determine what their parent wanted and make the necessary arrangements.
Next, locate the parent’s estate planning documents. These should include their Will, Trusts and any other documents, like a Letter of Intent. The parent has ideally shared the location of these documents, possibly in a home safe or at the parent’s estate planning attorney’s office.
Once the key documents have been located, the will must be submitted to a local court for probate. The court will review the will and determine whether it and the executor are valid. Until this happens, the only assets to be distributed will be those in trust or in accounts with beneficiary designations. Beneficiaries will need death certificates and proof of their own identity to claim assets.
If there is no will, the estate is considered “intestate.” The court will appoint an administrator, and assets will be distributed in accordance with state inheritance laws. Whatever the parent would have wanted to happen won’t matter. If they did not formalize their wishes by creating a will and other estate planning documents, state law governs their estate.
An executor will be named in the will. This is the person whom the parent determined is best qualified to manage the estate in accordance with the terms of the will. If the parent had trusts, the trust names a trustee to manage its assets.
What to Do Immediately after a Parent Dies?
The executor will need to notify financial institutions and government agencies. This includes banks, credit card companies, insurance companies and the Social Security Administration. If the parent received a pension, the pension administrator should be contacted to determine survivors’ benefits.
The executor is also responsible for handling the taxes for the individual and their estate. The executor should consult an estate planning attorney, as the process can become complex. Taxes vary based on the estate's size and structure, as well as the person's state of residence. Most families won’t have to pay federal estate taxes. However, several states impose state estate and inheritance taxes.
Estate taxes are paid from the estate bank account before assets are distributed. Inheritance taxes are paid by heirs, with the amount based on the relationship between the decedent and the heir.
The executor will need to open a special bank account, known as an Estate Account or an Executor Account. This is a temporary checking and savings account managed by the executor to hold the decedent’s cash assets, pay debts and taxes and distribute assets to beneficiaries just before the estate is closed.
Executors are responsible for filing a final income tax return in the year the person dies, covering income earned up to the date of death, including salaries, retirement distributions, or investment income. The estate pays the taxes, and the IRS will direct any refunds to the estate or beneficiaries.
If the estate continues to earn income after death, such as interest, dividends, or rental property, the executor will need to file a separate estate income tax return until the estate is closed.
Executors have a lot to do after a parent dies. It is a great kindness for a parent to consult an estate planning attorney to prepare legal documents and develop an estate plan.
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What to Do Immediately after a Parent Dies?
Reference: MSN (Dec. 15, 2025) “Efficient estate planning after the passing of a parent”
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