Estate administration can feel overwhelming, especially when balancing legal responsibilities with the emotions that come with losing a loved one. Whether you are an executor, trustee, or administrator, understanding your role is the first step toward handling the estate efficiently and properly.
At Casey Lundregan Burns, P.C., we have been guiding Massachusetts families through the estate administration process for over 90 years. Our goal is to provide clear, practical advice to help you settle an estate with confidence.
Immediate Actions Following the Death of a Loved One
The first few days after a loved one’s passing involve several important legal and financial steps.
Here is what to take care of right away:
Locating the Will and Reviewing Funeral Instructions
If the deceased had a will, locate the original as soon as possible. It may contain specific funeral instructions. If no will exists, Massachusetts law dictates who has the authority to handle arrangements.
Making Funeral Arrangements
Check if the deceased had a prepaid funeral plan or burial insurance. If not, immediate family members or the estate may need to cover the expenses. Keep receipts, as some costs may be reimbursed from the estate.
Securing Valuable Assets and Important Documents
Lock up the deceased’s home, vehicle, and any valuables to prevent unauthorized access. Gather important documents such as the will, life insurance policies, bank statements, and property deeds.
Arranging Temporary Care for Dependents and Pets
If the deceased had minor children, disabled adults, or pets, ensure their immediate care. Guardianship arrangements may be outlined in the will.
Determining Immediate Family Cash Needs
Survivors may need immediate funds for daily expenses. Executors can check for joint bank accounts, life insurance proceeds, or small estate affidavits that allow quick access to funds.
Obtaining Multiple Copies of the Death Certificate
Funeral homes typically provide death certificates, but you may need extra copies for banks, government agencies, and insurance claims.
Initiating the Process: Notifications and Legal Matters
Once initial arrangements are in place, it is time to start handling legal and administrative duties.
- Notifying Immediate Family and Beneficiaries: Let family members and beneficiaries know about the passing and their potential inheritance rights.
- Contacting the Deceased’s Lawyer (if applicable): If the deceased had an attorney, reach out to discuss legal documents and next steps.
- Initiating the Probate Process (if necessary): If the estate requires probate, file the will with the appropriate Massachusetts Probate and Family Court to begin the legal process.
- Obtaining Legal Authority to Administer the Estate: Executors named in the will or administrators appointed by the court must secure legal authority to manage the estate’s affairs.
- Notifying Relevant Government Agencies: Report the death to the Social Security Administration, Medicare, Veterans Affairs, and the Massachusetts Department of Revenue.
- Reporting the Death to Pension Administrators: Contact pension providers to initiate benefit payouts or transfers to surviving spouses or dependents.
- Notifying Banks, Financial Institutions, and Insurance Companies: Alert banks, investment firms, and insurance providers to freeze or transfer accounts and start processing claims.
- Canceling Credit Cards, Memberships, and Subscriptions: Cancel or transfer services such as credit cards, utilities, streaming accounts, and magazine subscriptions.
- Managing Digital Assets and Social Media Accounts: Secure email accounts, social media profiles, and digital subscriptions. Some platforms allow memorialization or account deletion upon proof of death.
Asset Management (Taking Control of the Estate)
Executors and trustees are responsible for identifying, securing, and managing estate assets.
- Identifying and Gathering All Assets: Compile a list of all assets, including bank accounts, investments, real estate, vehicles, business interests, and digital property.
- Preparing an Inventory of Assets and Their Values: Create an official inventory of estate assets. Some items may require professional appraisals, such as real estate, jewelry, or collectibles.
- Securing and Maintaining Real Property: Ensure that the deceased’s home is locked, insured, and maintained to prevent depreciation or damage.
- Collecting Debts Owed to the Estate: Notify and collect outstanding debts from businesses, tenants, or individuals who owe money to the deceased.
- Accessing and Inventorying Safe Deposit Boxes: If the deceased had a safe deposit box, you may need a court order or banking authorization to access it.
Financial and Tax Matters (Managing Finances)
Estate administration involves settling debts and handling tax obligations.
- Opening an Estate Bank Account: An estate bank account helps manage funds, pay expenses, and distribute inheritances efficiently.
- Paying Ongoing Bills and Expenses: Prioritize expenses such as mortgage payments, utility bills, and taxes to avoid penalties or foreclosure.
- Filing the Deceased’s Final Income Tax Return: File the deceased’s final federal and Massachusetts state income tax returns.
- Filing Estate Tax Returns (if applicable): Massachusetts requires estate tax filings if the estate exceeds a certain value threshold.
- Paying Estate Taxes (if due): Ensure all federal and state estate taxes are paid on time to avoid penalties.
- Filing Estate and Trust Income Tax Returns (if applicable): If the estate generates income (e.g., from rental properties or investments), a separate tax return may be required.
Debt and Creditor Management (Handling Liabilities)
The estate must settle outstanding debts before distributing assets.
- Identifying and Listing All Debts and Liabilities: Compile a complete list of credit card balances, medical bills, loans, and other outstanding debts.
- Publishing Notice to Creditors (Massachusetts-Specific): Massachusetts law requires publishing a notice to creditors, allowing them time to file claims.
- Verifying and Paying Valid Creditor Claims: Review and pay valid creditor claims in accordance with estate law.
- Negotiating and Settling Disputed Claims (if necessary): Negotiate or contest questionable creditor claims before settling disputes in court.
Asset Distribution (Distributing to Beneficiaries)
Once debts and taxes are paid, it is time to distribute assets.
- Reviewing the Will or Trust Documents for Distribution Instructions: Follow the exact terms of the will or trust when distributing assets.
- Identifying and Locating Beneficiaries: Confirm current contact information for all beneficiaries.
- Distributing Assets According to the Will or Applicable Laws: Transfer cash, property, and heirlooms according to the will or Massachusetts intestacy laws.
- Transferring Titles of Property to Beneficiaries: Prepare and file the necessary paperwork to transfer ownership of real estate, vehicles, and financial accounts.
Final Steps (Closing the Estate)
- Preparing a Final Accounting of All Financial Transactions: Maintain a clear record of all estate transactions for court review.
- Filing the Final Accounting with the Court (if required): Submit a final report detailing asset distribution and financial settlements.
- Closing the Estate by Filing Necessary Documents with the Court: Ensure all legal obligations are met before closing the estate.
- Closing the Estate Bank Account: Once all assets are distributed, the estate bank account can be closed.
Handling Estate Administration in Massachusetts? We Can Help
Estate administration is a complex process with many legal and financial responsibilities. At Casey Lundregan Burns, P.C., we have helped Massachusetts families for three generations. If you need legal guidance, call us today at (978) 878-3519 for a confidential consultation. Let us ensure your loved one’s legacy is handled with care and legal precision.
The information in this post is not intended as legal advice or as a substitute for the particularized advice of counsel. For more information, please consult an attorney.