Page 18 - Successor Trustee Handbook

CHAPTER 4

CHECKLIST OF IMMEDIATE ACTIONS UPON
THE DEATH OF THE FIRST SPOUSE

This chapter is designed to enable you, the person named as the “Successor Trustee” in
someone’s Living Trust, to handle the affairs of the Trust when the Trustor is married and
is the first spouse to die (even if the Trustor has his or her own separate Living Trust).
You may be the surviving spouse, or you may be a child of the deceased Trustor, or a
distant relative, friend, or independent third-party stepping in. This is not intended as
an exhaustive or detailed list of all the actions which should be taken by you as Trustee.
Rather, it is intended to give you a brief, general checklist which will help you
immediately step in and handle those items that demand your attention first. After
reviewing this checklist, it is recommended that you then read through the rest of this
Manual (beginning at the Chapter, “Reviewing the Trust (and Other Estate Plan
Documents)”. These other portions of the Manual will provide you with significantly
more detail and explanation of the actions on this checklist, as well as the further
actions you may need to take as Trustee.

The following actions are recommended upon the death of the Trustor, when he or she
is the first of a married couple to die:

If you are the Trustor’s spouse, or another close family member, and the
Trustor’s death has come suddenly, the most important thing is to take care of
yourself first. Shock and trauma can take unexpected forms. Most actions
that will need to be taken do not have to be done immediately and, if you act
too quickly out of worry or anxiety, you may do the wrong things and make
bad decisions. The first important deadline generally does not occur until
nine (9) months after the date of death. You should contact a family member
or friend who can spend time with you, either by phone or in person, during
the next few hours or days, until such time as you are emotionally stable and
can pursue the other items on this checklist. Avoid entering contracts for
anything while you are still in a highly emotional state, and avoid spending or
lending large sums of money. Do NOT make any financial decisions that
involve moving title to assets, selling or reinvesting accounts until you consult
with an attorney and/or CPA, as such actions may have adverse tax
consequences and violate the terms of the Trust.

Contact by telephone or otherwise notify the immediately family, close
friends, business colleagues and the Trustor’s employer (even if the Trustor has
retired, as there may be some benefits to which the surviving spouse is
entitled).

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