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TrueCore Federal Credit Union

When a Loved One Dies

If you've recently lost a loved one, we understand this is a challenging time. We at TrueCore are always here to support you with your TrueCore accounts and any other financial matters. We know that this can be an overwhelming experience. To help navigate the financial aspects of estate resolution, we've compiled steps to take regarding the accounts held at TrueCore:
 
 

Contact TrueCore

  • Be sure to get in touch with us at your earliest convenience. Our dedicated team is ready to provide you with personalized assistance and guidance. When contacting us, kindly inform our representative about the passing of your loved one. This will allow us to initiate the necessary processes and provide you with appropriate guidance. 
 

Review Account Details

  • We'll review your loved one's TrueCore accounts. This will include checking, savings, loans, and any other financial products they may have had with us. 
     

Understand Available Options

  • We'll guide you through options like closing accounts, transferring ownership, or updating beneficiaries
 

Provide Required Documentation

  • We'll unform you of necessary documents such as the death certificate, probate documents, and more.
 

Resolve Any Outstanding Matters

  • We'll assist you in resolving any pending transactions or issues
 
 
Our team is committed to providing compassionate support during this difficult time. We appreciate your trust in TrueCore Federal Credit Union. Please contact us at 740-345-6608 or info@truecore.org to discuss how we can help. 
 
 
Below is a checklist of items that may help you while managing financial matters during this difficult time. This checklist may not be all-inclusive. 
 
 
Gather Essential Documents:
  • Death certificate
  • Will and any relevant trust documents
  • Life insurance policies
  • Bank account statements
  • Investment account statements
  • Retirement account statements
  • Social Security number
 
Notify Relevant Parties:
  • Inform the deceased loved one's employer, if applicable
  • Notify banks and financial institutions
  • Notify the Social Security Administration
  • Notify insurance companies
  • Appoint an executor or administrator
  • Determine who is managing the deceased loved one's estate
  • Consult with an attorney if necessary
 
Identify and Secure Assets:
  • Locate and secure physical assets, such as property deeds, vehicles, and valuable possessions
  • Take inventory of bank accounts, investments, and other financial assets
  • Set up a separate bank account
  • Open an estate account to manage incoming and outgoing funds related to the deceased loved one's estate
Pay Outstanding Debts and Expenses:
  • Identify and prioritize outstanding bills, loans, and other debts
  • Pay ongoing expenses, such as mortgage payments, utilities, and insurance premiums
  • File the deceased loved one's final tax return
  • Consult with a tax professional to prepare and file the final tax return on behalf of the deceased loved one
 
Contact Beneficiaries and Heirs:
  • Notify beneficiaries and heirs about their entitlements and provide the necessary documentation
  • Apply for Death Benefits
  • Inquire about and apply for any available death benefits, such as life insurance proceeds or survivor benefits
 
Distribute Assets According to the Will or State Law:
  • Follow the instructions outlined in the will or, if no will exists, adhere to the applicable laws of intestacy
 
Keep Detailed Records:
  • Maintain accurate records of all financial transactions, including receipts, invoices, and communications
 
Consult with Professionals:
  • Seek advice from an attorney, accountant, or financial advisor to ensure compliance with legal and financial obligations