Page 28 - Successor Trustee Handbook

Terminate any credit cards in the Trustor’s name. Let the credit card
companies (as well as mortgage companies, utilities and other known
creditors) know about the Trustor’s death and when they can expect payment;
they usually will give you a “grace period” and agree to waive any late
charges. You may also want to ask your attorney whether a formal notice to
creditors should be published or mailed.

Notify the Trustor’s financial counselor and accountant or tax preparer,
or use your own or obtain a financial professional one to assist you as Trustee.
Decisions may need to be made soon regarding sales and/or repositioning of
financial assets, and tax planning, and estimated tax payments and tax
returns may become due. A new taxpayer identification number may need to
be obtained for the Trust (see the Chapter, “Income Taxes”).

Telephone the Trustor’s employee benefits office (whether or not he or she
was retired) with the following information: name, Social Security number, and
your name and address. The company will also likely require you to send in a
death certificate so it can then begin to immediately research and process
any benefits to which the Trustor and his or her beneficiaries may be entitled.

Notify your Social Security office of the death. Look for the address under
U.S. Government in the phone book.

Notify the government agencies which provided any federal or state
benefits to the Trustor, such as Supplemental Security Income (“SSI”), state
disability income (“SDI”), Medicare and Medicaid. Contact the local program
office and provide the same information as to the Trustor’s employee benefits
office above. You may be asked to return the last payment and/or to
reimburse the benefits previously paid; if so, you should seek the assistance of
an attorney who is an “Elder Law” Specialist to assist you, such as the Family
First Firm. If the Trustor was ever in the service, he or she may have available
certain benefits through the Veteran’s Administration which you should check
into.

Notify appropriate accident and/or life insurance companies. Give the
same information as you did with the Trustor’s employee benefits office and
ask what further information is needed to process your claim. It may be
important to make insurance claims as soon as possible, so you can get
immediate cash to pay various expenses. If the Trustor’s death is a result of an
accident where a third-party was involved, such as an auto accident, you may
wish to consult with an attorney about possibly pursuing a legal claim on the
Trustor’s behalf.

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