If you’ve had to trigger Emergency Mode because something happened to your Loved One, here’s what you’ll need to know with regard to their Home Box…
Start with Mortgage or Rent:
Do I need to let my mortgage company know if my loved one passes away
Yes, you should notify your mortgage company if your loved one passes away, especially if they were listed on the mortgage or held responsibility for making payments. Here’s why it’s important and what steps to take:
1. Determine Who is Responsible for the Mortgage
- If the mortgage was in your loved one’s name only, the responsibility for making payments typically transfers to the estate or to the surviving co-owner (if you are listed on the mortgage or are a co-borrower).
- If you are a co-borrower or if you and your loved one jointly owned the home, you will likely remain responsible for the mortgage payments.
2. Notify the Mortgage Company
Once you have the death certificate, contact the mortgage company to inform them of your loved one’s passing. Here’s why it’s necessary:
- To avoid any complications or missed payments during the transition.
- To update the mortgage records with the estate or new responsible party.
- To ensure that any insurance related to the mortgage (such as mortgage life insurance) can be activated, if applicable.
3. Keep Payments Up to Date
Even while the estate is being settled, mortgage payments must continue. If payments are missed, the lender may initiate foreclosure proceedings, so it’s important to stay on top of payments or make temporary arrangements with the lender.
4. Assess Estate or Inheritance Issues
- If the home is part of an estate, the executor will need to ensure that mortgage payments are made until the estate is settled.
- If the home was left to you or other heirs, you will need to decide whether to keep the home and continue making payments or sell the property to pay off the loan.
5. Understand Transfer of Ownership
If you wish to keep the home and your name is not already on the mortgage, you may need to work with the mortgage company to transfer the loan into your name, depending on the loan’s terms and inheritance laws.
6. Look Into Mortgage Life Insurance
If your loved one had mortgage life insurance, the policy might pay off the remaining mortgage balance. Contact both the mortgage company and the insurance provider to see if this is applicable.
7. Seek Legal or Financial Advice
In some cases, managing a mortgage after a loved one’s death can be complex, especially if there are issues with the estate or if you’re not sure how to proceed. Consider consulting with an estate attorney or financial advisor to understand your options and responsibilities.
Key Documents You May Need:
- Death certificate
- Mortgage statements
- Legal documentation proving your role (executor, co-owner, etc.)
By notifying the mortgage company promptly and keeping payments current, you can help avoid financial complications and ensure that your home is secure during this difficult time.
If I’m renting, do I need to let my property manager know if my loved one passes away?
Yes, you should notify your property manager or landlord if your loved one passes away, especially if they were named on the lease or contributed to the rental agreement. Here’s why and what to do:
1. Review the Lease Agreement
- Check whether your loved one was listed on the lease as a tenant or co-signer. If they were, you’ll need to notify the property manager to update the lease.
- If your loved one was the primary leaseholder, you’ll need to discuss transferring the lease to your name or explore other options depending on your situation and the terms of the lease.
2. Notify the Property Manager or Landlord
It’s important to let the property manager know as soon as possible about the passing of your loved one. Here’s why:
- To update the lease agreement and clarify the rental terms going forward.
- To discuss the security deposit, especially if your loved one was the primary leaseholder.
- If you plan to stay, the property manager may need to reassess your lease to reflect the updated household situation, including who is responsible for paying rent.
3. Discuss Payment Responsibilities
- If your loved one was responsible for some or all of the rent payments, you’ll need to work with the property manager to reallocate payment responsibilities.
- Be sure to keep rent payments current during this time to avoid penalties or legal issues. If you are struggling to make payments due to the loss, consider discussing temporary options with your property manager.
4. Plan for Lease Continuation or Termination
- If you wish to stay: You may need to transfer the lease into your name, especially if your loved one was the primary tenant. The property manager may also need to conduct a new screening process.
- If you need to move: In some cases, you may want or need to vacate the property. You should discuss the terms of early termination with the landlord. Many leases include provisions for such situations, and some property managers may be flexible due to the circumstances.
5. Handle Personal Belongings
- If your loved one was on the lease and you are not planning to stay, you may need extra time to clear out their belongings. Discuss this with your property manager to ensure you have access to the property if you need additional time beyond the standard notice period.
6. Understand Legal Responsibilities
In some cases, a co-signer or estate may still be responsible for outstanding rent payments or obligations under the lease. It may be helpful to consult with a legal advisor if there are complexities related to the lease or your rights as a surviving tenant.
7. Documentation You May Need
- A copy of the death certificate to provide to the property manager.
- Lease agreements to clarify responsibilities and rights.
- Any proof of co-occupancy if your name wasn’t on the lease but you lived with the deceased.
By informing your property manager and discussing the next steps, you can ensure a smooth transition, whether you plan to stay in the property or need to make new arrangements. Open communication can help avoid misunderstandings and ensure you understand your options during this difficult time.
What about Utilities?
When a loved one passes away, managing home utilities such as water, sewer, trash, internet, and cable is an important step to keep the household running smoothly or to prepare for any future changes. Here’s a guide on what to do with each utility:
1. Locate Utility Information
Gather all relevant utility bills or account details. This may include:
- Account numbers
- Payment schedules
- Online login information
- Whether any payments are automatically set up from your loved one’s accounts.
2. Identify Who is Listed on the Account
- If your loved one was the primary account holder, you may need to transfer the utility accounts into your name.
- If you were listed as a joint account holder, you may still need to notify the utility companies of the death but can usually continue service without interruption.
3. Contact Each Utility Provider
Notify each utility provider (water, sewer, trash, internet, cable, electricity, gas) about your loved one’s passing. Here’s what you should do for each:
- Water, Sewer, and Trash:
These utilities are often handled by the city or local government. Contact them to update the account holder’s information. Depending on local policies, you may need to provide a copy of the death certificate. If you are keeping the property, ensure the accounts are transferred to your name. If you plan to vacate the property, arrange to cancel services when appropriate. - Electricity and Gas:
Reach out to the utility company to transfer the account to your name. If there are outstanding bills, ensure they are paid to avoid service interruptions. If the home will be vacant, consider reducing the utility usage but keeping essential services (like heating or cooling) active to prevent property damage. - Internet and Cable:
If your loved one was the account holder, contact the provider to transfer the service to your name or cancel it, depending on your needs. Be sure to ask about any cancellation fees or penalties if you plan to discontinue the service. If your loved one was in a contract for cable or internet, you might need to provide a death certificate to waive early termination fees.
4. Keep Payments Current
Until the accounts are transferred or canceled, make sure all utility bills are paid to avoid disruptions. If your loved one’s accounts were set up for automatic payments, check to ensure funds are still available.
5. Review Automatic Payments
Many utility services, such as internet or electricity, may have been set up for automatic payment. You’ll need to:
- Cancel or redirect automatic payments from your loved one’s account if they will no longer be used.
- Set up new payment methods to ensure services continue without interruption.
6. Cancel Unnecessary Services
If the property will no longer be used (for example, if it is being sold or if you are moving out), you can cancel services such as:
- Cable TV (if no longer needed).
- Internet (if no longer needed or before selling the property).
- Trash service if you will not be living in the home.
7. Prepare for Temporary Vacancies
If the property will be vacant for a while (due to selling, renting, or probate), it’s important to manage the utilities carefully:
- Keep water, electricity, and gas running to avoid damage like frozen pipes.
- Reduce the internet or cable package to a basic plan or temporarily suspend the service if it’s not needed.
- For trash collection, contact your provider to reduce or stop service during the vacancy.
8. Transfer or Cancel Home Security Systems
If your loved one had a home security system, contact the provider to update the account. You may want to transfer it to your name if you plan to stay in the home or cancel the service if it is no longer needed.
9. Update Mailing Addresses
Ensure that the utility bills are directed to your address or another appropriate location, especially if the home will no longer be occupied. This prevents missed payments or confusion.
10. Seek Help if Needed
If you are unsure how to handle certain accounts or need help with the transition, consider contacting a financial advisor or estate attorney. They can guide you through the legal and financial aspects of managing utility accounts as part of the estate.
By notifying utility companies promptly and either transferring or canceling services, you can ensure that everything continues to run smoothly, avoid unnecessary fees, and prevent any disruptions while managing your loved one’s affairs.
Keep track of Important Contacts and Accounts:
Many of the Items stored in the Home Box are going to be primarily for reference purposes. We recommend that you download or capture this information for offline storage or access. You may someday like to get ahold of your handyman, for example. You don’t need to contact them when something happens to your Loved One but it’s nice to have their contact info accessible.