Frequently Asked Questions After Losing A Parent

Losing a parent is one of the hardest things to experience in life. Even when children become adults and have families of their own, they still often strongly rely on their parents for guidance and support. The time after a parent’s death is very confusing and you will likely have many questions. Below, our Daytona Beach estate planning lawyer outlines the most common questions we hear in these situations, and the answers to them.

Should You Create a List of Property Owned by Your Parent? 

Yes, you need to have a thorough understanding of all of the property your parent owned. Although you may be aware that your parent owned a home or a vehicle, there may be other property you are not aware of. Consider if your parent owned stocks, investment accounts, digital currency, or insurance policies. After finding any property owned by your parent, put it on the list so you can have a complete understanding of the assets in their estate.

How Can You Determine Your Parent’s Income? 

Whether your parent was retired or still in the workforce when they passed away, it is critical that you determine if they earned an income, and the amount they earned. Sometimes, doing so is as easy as checking their mail or bank accounts. If you do not have the authority to access certain financial accounts, you should contact a Daytona Beach estate planning lawyer who can advise on your case.

How Should You Keep Track of Your Parent’s Bills? 

It is very important to keep any bills that were sent to your parent through the mail, or in any other manner. If you pay any invoices or bills for your parent, it is important to keep receipts for them to show they have been paid. For example, you may want to continue paying your parent’s utilities and mortgage until you can sell the home. Keep these bills, receipts, or statements and give them to your Daytona Beach estate planning lawyer so they can manage them.

Did Your Parent Create an Estate Plan?

Maybe you are unsure of whether your parent ever created an estate plan. Or, maybe you do know that your parent took this step but you do not know where their will or other estate planning documents are. An estate planning lawyer can help you answer these questions and locate the necessary documents.

Have You Created an Estate Plan? 

When a loved one passes away, it is natural to start thinking about your own mortality. Maybe your parent did not have an estate plan and that made the aftermath of their death even more difficult. Or, perhaps you have realized how prepared your parent was and you want to provide that same protection for your own family. Regardless of why you have started thinking about your own estate plan, now is the time to start if you have not already.

Our Estate Planning Lawyer in Daytona Beach Can Answer Your Questions 

The time after a parent’s death is one of grief and confusion. At Bundza & Rodriguez, our Daytona Beach estate planning lawyer can answer all of your questions and provide sound legal advice so you can focus on your family. Call us now at 386-252-5170 or contact us online to request a free consultation and to learn more.

Sources:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html

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