Few people die with every bit of their financial affairs in order – even if they left a will or went through substantial funeral pre-planning. That’s because most Americans live on a delicate balance of money coming in, money going out, and money being moved to savings or insurance accounts. And when a loved one passes away, this balance doesn’t go with them. It is up to the dependents and beneficiaries to navigate the many different bills and debts left behind.
Before you pull out your checkbook or start panicking about how you’re going to cover all the immediate expenses, it’s important to learn your rights and responsibilities about paying bills when a loved one dies.