When a
loved one dies, we may find ourselves faced with the immediate question
of “what should we do now?” This can be a confusing and difficult
time, with many well intentioned people including children, friends,
family, business associates and others offering advice and telling you
“what you should do”. The more important question may be to ask
yourself “what shouldn’t I do now?” After all, you are moving
through a “grieving process”. The time it takes to pass through the
various stages of grief is different for everyone.
Some things should just wait until you are
better able to take them on. If you can you should postpone selling your
home, lending money to anyone, making major purchases new investments
or changes in investments, buying life insurance, giving away money,
going on a spending spree or relying on strangers. All these should
remain your decision, and should not be the decisions of friends,
children or acquaintances.
Even the probate process itself may be able to
wait a reasonable amount of time. Probate is the legal process by
which assets held in one person’s name are transferred to that person’s
heirs. When a probate estate is opened, a person is appointed to manage
the estate. If a person dies with a will, known as “testate”, then
Alabama law provides that any person having custody of a will shall
deliver it “with reasonable promptness” to a person able to secure its
probate. Because over time certain important rights can be lost,
the will should be offered for probate “with reasonable
promptness”. This does not mean you must rush to probate a will in
one day, one week or even one month. You have some time to gather
yourself after the death of your love one. However, there may be
other pressing reasons to move forward with the probate process, such
as freeing up needed funds that were not held in a joint account with
right of survivorship, or payable on death, to you.
If a person dies without a will, or “intestate”, a
probate estate must be opened within 40 days after the death, to
preserve your right to be a person entitled to appointment to manage
the estate.
Recovery from the death of a loved one is an
intensely personal experience that you must move through at your own
pace. An experienced and trusted accountant and/or attorney can offer
sound advice to assist you in making the decisions that you may
feel pressed to make now.
Susan F. Harville-Stein, LCSW, is an attorney at
law. Ms. Harville-Stein is also a Licensed Certified Social
Worker, with a Masters degree in Social Work. Dean D. Stein, CMA,
is an attorney who has a Masters degree in business and is a Certified
Management Accountant (CMA). |