DAL Law Firm: What to do when a spouse passes away

Introduction

Losing a spouse is an incredibly difficult time, both emotionally and mentally, and when you add in legal issues that can arise, it can be quite overwhelming. There can be important financial and legal steps that need to be taken after a spouse’s passing, especially in a community property state like Washington. This guide will help walk you through the essential actions to take, from handling community property, updating beneficiaries, and reviewing your current estate plan.

  1. Addressing Community Property
    In Washington, which is a community property state, half of the assets acquired during marriage belong to each spouse. After your spouse’s death, it’s crucial to understand how these assets are handled. You’ll need to determine what is considered community property versus separate property and manage the legal transfer of ownership.
  2. Update Beneficiaries
    Once your spouse has passed, updating beneficiary designations is an important next step. This includes updating beneficiaries on accounts such as retirement funds, life insurance policies, and other financial assets. If your spouse was listed as a primary beneficiary, you will need to change these designations to reflect your new preferences.
  3. Contact Financial Institutions and Banks
    Contact your spouse’s banks and other financial institutions to inform them of the passing. You may need to provide a death certificate and updated information regarding the estate. Banks will often freeze individual accounts until proper documentation is provided, so it’s important to act promptly.
  4. Review and Update Your Current Estate Plan
    After a spouse’s passing, reviewing your own estate plan is essential. The dynamics of your financial situation have likely changed, so it’s important to revisit your will, trust, and powers of attorney. Consulting with your estate planning attorney will help ensure that your estate plan reflects your new situation and goals.
  5. Social Security and Survivor Benefits
    You may be eligible for Social Security survivor benefits, depending on your age and work history. Contact the Social Security Administration to inquire about potential benefits and how to apply for them.

Conclusion

When a spouse passes, the legal and financial responsibilities can feel overwhelming. By taking the appropriate steps to address community property, update beneficiaries, and review your estate plan, you can ensure that your assets and financial future are protected.

If you would like to consult with our office regarding our services and how we can be of assistance, we would be happy to hear from you! Our telephone number is (206) 408-8158.

You can also learn more about our services by visiting our website:

https://www.dallawfirm.com

Contact us:

19803 1st Avenue S.
Suite 200
Normandy Park, WA 98148

T (206) 408-8158
F (206) 374-2810

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