By Andrew Hoffman
Many individuals have employer-sponsored retirement programs like a 401(K) or a pension plan. The payment periods and the amounts for each of these plans vary. When a loved one dies try to contact the financial company handling the retirement program as soon as possible to receive the appropriate forms you will need to report the death. The company or more specifically the human resources department for the company will most likely need a certified copy of the death certificate submitted along with the forms. As a side note, some retirement income plans become assets that are transferable to another party, such as the spouse of the deceased, upon death. These assets cannot be transferred until they receive the information that confirms that the death has occurred, hence the need for the death certificate.
When an individual passes away and has stocks, bonds, CD’s, saving’s accounts, checking accounts, or any other type of bank account you will want to get in touch with the bank to let them know that the death has occurred. They will have processes in place for closing those accounts or transferring them to the beneficiaries of the deceased and those processes usually entail a death certificate. If you have stocks or mutual funds purchased through a broker, financial planner or investment firm they will need a death certificate to cash out or transfer the stocks to the beneficiary of said assets.
Andrew B. Hoffman is a funeral director at Jeffries and Keates and Keates-Plum Funeral Homes. He is a twenty-two year veteran of the funeral industry.
