Beneficiary Guide
A general framework to help you navigate what comes next. This is not legal advice.
Important: The information on this page is general in nature and does not constitute legal or financial advice. Testament LLC provides this as a courtesy resource only and assumes no liability whatsoever for any actions taken based on this content. Estate laws vary by state and every situation is different. Please consult a licensed estate attorney, financial advisor, or qualified tax professional for guidance specific to your circumstances.
Act immediately
Act immediately — within the first few days
- Cancel active subscriptions: Recurring charges continue until cancelled. Review the subscriptions in this vault and cancel each one directly to stop ongoing billing.
- Secure cryptocurrency: Crypto assets are irreversible if lost. Locate wallet credentials and seed phrases in this vault immediately and transfer to a secure location.
- Notify banks: Contact each financial institution to report the death. They will guide you through the account freeze and transfer process.
- Secure cloud storage: Download family photos, videos, and important documents from cloud accounts before platforms close or restrict access.
Act within 30 days
Act within 30 days
- Credit card issuers: Report the death to each issuer. Outstanding balances are typically the responsibility of the estate, not surviving family members, unless you are a joint account holder.
- Social Security Administration: Notify SSA of the death. A surviving spouse or dependents may be eligible for survivor benefits.
- Life insurance: Contact each life insurance company listed in the documents section of this vault to initiate claims. Have the death certificate ready.
- Social media: Most platforms allow memorialization or account removal. Check each platform's specific policy.
- Email accounts: Forward or close email accounts as appropriate.
During estate settlement
Act during estate settlement — no strict deadline but important
- Formal asset transfer: Work with a licensed estate attorney or executor to formally transfer titled assets. This process varies significantly by state.
- Estate debts: Outstanding debts generally belong to the estate, not to heirs personally. An estate attorney can clarify what applies in your specific situation.
- Beneficiary designations: Many financial accounts — retirement accounts, life insurance, brokerage accounts — transfer directly to named beneficiaries outside of probate. Review each account.
- Final tax return: A final federal and state income tax return must be filed for the year of death. Consult a qualified tax professional.
This page is a general informational resource only. Testament LLC is not a law firm and does not provide legal, financial, or tax advice. No attorney-client relationship is created by your use of this guide. Laws governing estates, debts, and asset transfers vary by state. Please consult a licensed estate attorney, financial advisor, or tax professional before taking action. Testament LLC assumes no liability for outcomes resulting from use of this information.