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  • Dee Thompson, Representative
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CALIFORNIA ESTATE PLANNING CHECK LIST

CHECK LIST FOR SETTLING YOUR TRUST AFTER THE FIRST SPOUSE DIES

In addition to the legal steps related to the trust, there are lots of other things that need to be done when a spouse dies. Every situation is different, but the following is a list of typical things that need to be done. Not every item is required in every case. Your estate planning attorney can work through this list with you.

Locate Documents
Locate Trust Documents
Check Safety Deposit Box
Locate vehicle titles
Locate Veteran's Papers(military discharge papers)
Locate Marriage Certificate (needed for SSA)
Destroy or replace credit cards as necessary
Locate insurance policies and annuities
Order death certificates (10)
List Assets and title to each
Locate last two years income tax returns

Clean up Bills, collect debts & transfer vehicles
Collect debts owed
Pay debts due
Make sure insurance policies are paid up (homeowners', personal property, casualty)
Make accurate record of last illness expenses and burial costs (deductible on 1040)
Transfer title to vehicles (DMV forms REG 5 & REG 256)

Review Trust Documents
Identify trustees
Identify sub-trusts
Locate Certification of trust (if one exists)
Prepare Affidavit of Surviving trustee (as needed)
Review Memorandum for special allocation and distribution of personal effects
Check that all assets are in living trust. (If not, on first to die transfer to trust.)

Contact Insurance Companies and Vets' Adm.
Call life insurance companies and send death certificates
Call VA for $150 cemetery allowance (800) 827-1000

Contact Social Security Administration & Medicaid
Notify Social Security of Recipient's Death (refund payments made after death)
Notify Medicare of Recipient's Death
Apply to Social Security Admin. for widow's benefits
Apply to Social Security Admin. for $255 death benefit.

Notice to Creditors
File notice to creditors form with county clerk of probate court (Optional)
Publish in local newspaper (3 times within 15 days)(Optional)
Value and Allocate Assets to Sub-Trusts
Establish one new bank account for B & C trusts
Value all assets as of date of death (ex real estate)
Get written valuation of all real estate
Get quotation of selling price of stocks and bonds on DOD
Get written valuation of other assets
Establish Ledger Allocate assets to sub-trusts
Transfer title of assets to heirs as appropriate.

File Tax Returns
File form SS-4 for EIN (Employer Identification Number)
Select accountant to do tax returns
Review income tax returns for last five years for tax loss
carry forward
File form 1041 US income tax return for Estates & Trusts for
balance of year
File form 1040 US individual income tax return for balance of
year.(use joint return)
Determine if form 706 U.S. estate (and GST) tax return needs
to be filed.