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Twelve Months of Financial Milestones Working with Financial and Legal Advisors What Are the Steps in the Probate Process? What Is the Probate Process if There Is No Will?
What Does the Executor or Administrator Do? What Should I Do if I
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SETTLING THE ESTATE
There are several ways you can get money while the estate is being settled. Some property will pass to survivors (particularly spouses and children) automatically. It will not need to go through probate. However, it will be included as part of the estate for tax purposes. This property is yours to use and to sell if you need to, and might include the following: • Certain joint accounts. Some joint bank accounts, stock accounts, and real estate accounts are set up so that one OR both of the individuals named on the account can access them. Check with the financial institutions that hold your joint accounts to see if you can continue to access the accounts. • Certain survivor benefits. These are benefits from life insurance, retirement accounts, and annuities with named beneficiaries. Remember, you must tell the insurance company (or other company holding the account) about the death so it will know to begin sending you benefit money. You also can apply for the following: • Survivor’s allowance. Ask the estate executor or administrator to pay a survivor’s allowance from the estate. • Survivor benefits. Apply for survivor or dependent benefits from Social Security, the Department of Veterans Affairs, or any job pension.
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How Do I Pay the Bills Until the Estate Is Settled?
