Settling an estate is one of the most complex administrative tasks most people will ever face — and you're often doing it while grieving. This checklist breaks the process into manageable stages, from the hours immediately after death through the final closing of the estate.
Before You Begin: Key Principles
- You don't have to do everything immediately. Most estate tasks have timelines measured in weeks or months, not hours. The exceptions (securing property, notifying certain institutions) are noted below.
- Keep records of everything. Every call, every document, every expense. Executors who face disputes later are grateful for their records. Those who don't are too.
- Open a dedicated estate checking account. Never mix estate funds with personal funds. All estate income goes in; all estate expenses come out.
- Get help. An estate attorney, a CPA familiar with estate taxes, and a financial advisor can each save you far more in time, errors, and liability than they cost.
Stage 1: The First 48–72 Hours
- Obtain an official pronouncement of death
- Contact a funeral home to arrange for body transport and care
- Notify immediate family members
- Locate the will (or determine if one exists)
- Secure any physical property — home, vehicles, valuables
- Care for dependents (minor children, elderly relatives) and pets
- Cancel any upcoming appointments or events that require action
Stage 2: The First Two Weeks
- Obtain multiple certified copies of the death certificate (typically 10–15; you'll need one for nearly every institution)
- File the will with the probate court to begin the legal process
- Petition the court to be formally appointed as executor (if not already named)
- Notify Social Security Administration of the death (benefits must stop; overpayments must be returned)
- Notify the deceased's employer if applicable (final paycheck, benefits, pension)
- Cancel or redirect mail
- Arrange for obituary publication
- Plan and hold funeral or memorial service
- Begin collecting important documents: financial statements, insurance policies, property deeds, vehicle titles, tax returns
Stage 3: The First 1–3 Months
Inventory all assets
- Bank and investment accounts
- Real estate and vehicles
- Retirement accounts (IRA, 401k) — note: these typically pass via beneficiary designation, outside probate
- Life insurance policies — contact insurers to initiate claims
- Valuable personal property (jewelry, art, collectibles)
- Business interests
- Digital assets (cryptocurrency, online accounts, websites)
- Amounts owed to the deceased (debts, loans, pending income)
Inventory all liabilities
- Outstanding debts (credit cards, loans, mortgages)
- Ongoing expenses (utilities, insurance, property taxes)
- Potential tax liabilities
Open an estate bank account
Once you have letters testamentary (court document appointing you executor), open a dedicated checking account in the name of the estate. All income and expenses run through this account.
Notify creditors
Most states require publishing a notice to creditors in a local newspaper and directly notifying known creditors. Creditors typically have 2–6 months to file claims against the estate (varies by state). Do not distribute assets to beneficiaries until the creditor claim period has closed.
Cancel accounts and subscriptions
See our full guide to closing accounts after a death. Key items: credit cards, subscriptions, driver's license, voter registration, memberships.
Manage ongoing property
Maintain insurance on real property. Continue paying mortgage, utilities, and property taxes to prevent default or loss of coverage. Secure and change locks if needed.
Stage 4: Months 3–12 — Tax and Financial Administration
File final income tax return
The deceased's final individual income tax return covers January 1 through the date of death. Due April 15 of the following year (same as normal), though extensions are available. If the deceased received a refund, it goes to the estate.
File estate income tax return (if applicable)
If the estate earns income while being administered (interest, dividends, rent), the estate must file a fiduciary income tax return (Form 1041). This is separate from the estate tax return.
Determine if federal estate tax applies
The federal estate tax only applies to estates over the exemption amount ($13.61 million per individual in 2024, indexed for inflation). Most estates do not owe federal estate tax. State estate taxes vary: some states have lower exemptions ($1–5 million) and apply to more estates.
Pay valid creditor claims
Once the creditor claim period has passed, pay validated claims in the priority order established by your state's law: generally administrative expenses first, then secured creditors, then unsecured creditors. If the estate is insolvent (debts exceed assets), an attorney's guidance is essential.
Handle retirement accounts
Retirement accounts (401k, IRA) typically pass to named beneficiaries outside of probate. Notify the account custodians and help beneficiaries understand their options for inheriting retirement accounts (the rules are complex, especially post-SECURE Act).
Stage 5: Closing the Estate
- Confirm all taxes have been filed and paid
- Confirm all valid creditor claims have been paid
- Prepare a final accounting for beneficiaries: assets received, debts paid, expenses, distributions
- Get beneficiary approval of the accounting (obtain releases)
- Distribute remaining assets to beneficiaries per the will or intestacy law
- Transfer real estate via deed; retitle or transfer financial accounts
- File final court documents to formally close the estate
- Close the estate bank account
Helping the Next Executor
One of the most lasting gifts someone can give their family is making this process easier. FinalKeepSake is designed specifically for this: a secure place to organize your will, account information, insurance policies, property documents, and final wishes — so your executor spends months less searching and can focus on what matters.