Navigating the Death of a Loved One
Meritrust Credit Union is here for you as you go through this process.
This page includes the following information:
Coping with the loss of a loved one
If you have experienced the death of a loved one, you know firsthand the pain, sense of loss and fog that envelops you. You may be feeling many different or conflicting emotions about what lies ahead. Try not to rush your grief and do what you can.
You are not alone in this journey.
- Let others care for you: Care can take many forms, such as a friend lending a listening ear or helping to tend the house.
- Embrace your feelings: It is natural to grieve in different ways. Anger, loneliness, frustration, exhaustion, fear and even relief may all be a normal part of dealing with loss.
- Celebrate your loved one’s life: Look for ways to remember and honor the connection you shared with the person who passed.
- Recognize when you need more support: If your physical health has been impacted, please consult your family physician. Your health matters.
- Understand that grief is a cycle: There may be entire days when simple daily activities seem impossible, while other days may seem more manageable. Both experiences are valid.
- What you can do next: Take the time and space needed for any major life decisions during this period. Have patience with yourself.
Your first steps after a loved one passes
The death of a family member or a close friend creates a unique set of circumstances and emotions, and it is important to understand how to navigate the process afterward. Here are some steps we recommend you take as soon as you can:
- Contact funeral homes
- Get a legal pronouncement of death.
- Contact employer
- Find will / existing burial plans
- Provide care for pets
- Secure property
- Tell friends and family
Notification checklist
It will be helpful to the process to notify businesses and organizations of the death, as well as the need to change names on any bills and documents. This includes:
- Financial Institutions — To remove the deceased’s name from joint accounts.
- Utilities — Gas, electric, water, sewer, etc.
- Cable, internet and subscription providers — For billing purposes.
- Labor Union — You can contact the union to see if they offer assistance or benefits.
- U.S. Post Office — If the appointed executor has a different address than the deceased, the deceased’s mail will need to be forwarded.
- Credit Reporting Agencies (CRA) — By notifying the three major CRAs of the death, you can help prevent identity theft and fraud.
- Phone carriers — To close or make any account adjustments.
- Clubs and memberships — To businesses or professional organizations, gyms, etc.
- Life insurance — To file a claim.
- Non-banking payment services — Venmo, Zelle, PayPal, CashApp, Chime, etc.
- Veterans Affairs — Ask about possible pension or survivor benefits.
- Social Security — To notify the Social Security Administration and ask about possible spousal or survivor benefits.
- Business owner — If the deceased owned a business, contact an attorney.
Document checklist
It can be difficult to think about death, but planning can help prevent disputes, long court litigations and unnecessary taxes. There are valuable resources and proficient advisors available to help. Below is a list of documents to help expedite some of the processes:
Meritrust
- Death certificate
- Will
- Marriage certificates
- Safe deposit box info and key
- Deed
- Letters of Administration / Testamentary
- Trust documents
- Divorce decree
- Vehicle titles
Other financial institutions / financial counselor
- Military service record / Discharge papers
- Tax returns
- Life insurance policies
- Car insurance
- Homeowner’s / Renter’s insurance
- Health insurance
- Social security cards
- Leases
- Storage locker contract
- Bills
- Employer benefit statements
- Pension / retirement plan statements
- Stock certificates
- Investment account statements
Frequently Asked Questions
What will happen to direct deposits coming to Meritrust?
If a direct deposit is received from one of the federal paying agencies (such as the Veterans Administration, Social Security or DFAS Kansas City) on or after the member’s date of death, Meritrust is required to return the funds.
How long will the affected accounts remain open?
We recommend that you settle your loved one’s accounts as soon as possible. Meritrust will continue reporting to the IRS under the deceased’s social security number until the account is closed or retitled to the surviving joint owner, provided they are eligible for membership.
What will happen to automatic payments that are being deducted from the account?
You need to notify the companies that are debiting the deceased’s accounts that the member has passed away. Advise them to stop the automatic payment because the account is being closed.
If I am a joint owner on an affected checking account, can I still process transactions from the account?
Yes, as long as the account is classified as “joint.” Eventually, this account will be retitled to the surviving joint owner.
If I am the designated administrator of the estate, will I be able to access information on the account, such as which checks have cleared?
Yes. Once court or probate documentation stating that you are the estate administrator is provided, you will be entitled to all account information.
What happens to consumer loans (auto, signature loan, ULOC)?
During settlement of the deceased’s consumer loan(s), Meritrust will apply for CUNA Credit Life insurance if applicable. The estate’s point of contact will be advised of any outstanding balance. Outstanding loan balances become the responsibility of the co-signer, co-borrower or member’s estate. The estate executor / administrator must pay off all existing loan balances or provide Meritrust with the necessary documentation to properly file a claim against the member’s estate. In instances where there is no co-signer or co-borrower, or the estate is insolvent, the loan will be referred to the Legal Department for further action.
Can I use the funds from the account to pay for the funeral service?
Yes. We can generate a certified check made out to the funeral home after an invoice is provided to Meritrust. The check can be picked up at any branch location or mailed directly to the funeral home.
Memorializing your loved one
Healing is a process, and it does not happen all at once, but when the timing feels appropriate for you, memorializing your loved one can be a wonderful and positive way to reflect on the life of your loved one.
We have listed suggestions below and hope that they help inspire other ideas that may be more personal for you.
- Plant a tree
- Name a star
- Donate to a charity
- Donate to your loved one’s alma mater
- Donate some of their clothes
- Name a park bench
- Wear jewelry they passed down to you
- Cook their favorite meal
- Read their favorite book
- Have a lantern ceremony
- Create a playlist of their favorite music.
For more information or further help with your situation, please feel free to contact us at 303.657.7000, or email [email protected].
