Welcome back to the Dollar Wise Podcast. In this episode, Jason Gabrieli is joined by Brittany Tedesco from Bratton Law Group to discuss the essential steps and considerations when dealing with the death of a loved one. The conversation covers the importance of having a will, the difference between probate and non-probate assets, and practical advice on how to manage estate administration effectively. This episode aims to provide listeners with crucial insights to ease the burden during such challenging times.

Tune into this episode to also learn:

• Key steps to take immediately after a loved one passes away.
• The role of a funeral representative in estate planning.
• Differences between probate and non-probate assets.
• Practical tips for managing estate accounts and distributions.

What we discussed

• [00:02:00] Immediate steps to take after a death, including waiting periods and obtaining death certificates.
• [00:04:13] Essential documents for estate planning: wills, powers of attorney, and HIPAA releases.
• [00:07:56] Differentiating between probate and non-probate assets and their impact on estate administration.
• [00:10:38] Opening an estate account and managing the deceased's assets.
• [00:13:22] Filing inheritance tax returns and handling the estate's financial obligations.
• [00:16:44] Preparing executors for their roles and ensuring open communication with beneficiaries.
• [00:19:22] The importance of updating beneficiary information and having detailed records.

3 Things To Remember

1. Always have essential estate planning documents in place, including a will and powers of attorney.
2. Understand the difference between probate and non-probate assets to streamline the estate process.
3. Open communication with your executor and family members can significantly ease the estate administration process.

Useful Links

Connect with Jason Gabrieli: LinkedIn

Connect with Brittany Tedesco : btedesco@BRATTONLAWGROUP.COM

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