About Financial Obligations
Gather all the decedent’s bills together and make sure you are aware of all the financial obligations of the deceased. Many loans, service contracts, and credit card accounts are covered by life insurance, which pays off the account balance in the event of the death of a customer.
The family then contacts the financial institutions where the decedent had a loan, and informs them of the death. These institutions will be able to inform you if the loan was covered by credit life, and what needs to be done to file the claim.
Credit card companies also need to be notified. If the card is jointly held, find out what documentation is required to change cards into the survivor's name.
Notify banks as well especially if there is a joint account. This is necessary before you can withdraw funds from that account. A bank will usually stop payment on all checks as soon as a death notice is published.