AARP ElderWatch Colorado is a program with the Colorado attorney general and AARP whose mission is to ensure that no older adults are left to suffer, alone and in silence, at the hands of those who exploit them. The program fights the financial exploitation of older Coloradans through education and outreach, data collection, and the providing of assistance through a volunteer-staffed fraud victim support helpline.
Here’s a link to our YouTube videos: https://www.youtube.com/playlist?list=PLspDqDr5cjm2_xqCI1KJ2b_Pln7OGoYNe
Feel free to check out the podcast, MoneyTalks 50+ here: https://www.buzzsprout.com/1758880
Finances after the Loss of a Loved One Checklist
First Steps:
- Funeral arrangements
- Funeral home contact Social Security Administration
- 12 Certified copies of death certificate
- Arrange for property to be watched during/funeral visitation
- Reviewing the Will
Second Steps:
- Discuss most pressing needs of consumer in relations to finances
- Forwarding mail
- Securing copies of death certificate
- Notify employer of death
- Locate will and executor – person who manages estate
Collect the following documents:
- Will/trust
- Life insurance policy
- Birth certificate
- Marriage certificate
- Death certificate (when you have it)
- Funeral arrangements
- Social Security card (both yours and your spouse)
- Tax returns
- Divorce agreements
- Bank statements
- Investment account statements
- Stock certificates
- Pension/retirement plan (401k) statements
- Loan statements
- Mortgages
- Leases
- Deeds
- Motor vehicle titles
- Car insurance
- Home insurance
- Health insurance
- Bills
- Safe deposit box information and key
- Storage locker contract
- Business ownership/interest
- Military service records
Assets & the Estate:
- Colorado does not require estate taxes, gift taxes or inheritance taxes
- Federal taxes may need to be filed if the estate is valued over $10,000
- Check the following places for assets:
- Tax returns
- Brokerage and bank accounts
- Deeds
- Titles
- Safety deposit box
- Filing cabinet
- Web accounts
- Make an inventory of assets
- Personal property
- Bank accounts
- House
- Car
- Brokerage accounts
- Physical items including jewelry and furniture
Credit Accounts
- Contact national credit reporting agencies to report death.
- Request credit report to be flagged as “deceased. Do not issue credit.”
- Write a letter to Equifax, Experian and TransUnion to send by certified mail
- Equifax:
- 800-525-6285
- O. Box 105069 Atlanta, GA 30348
- Experian:
- 888-397-3742
- O. Box 9701 Allen, TX 75013
- TransUnion
- 800-680-7289
- O. Box 6790 Fullerton, CA 92834
- Letter should include
- Name of the deceased
- Address
- Social security number
- Birthdate
- Death date
- Copy of death certificate
- Your name, contact information and relationship to deceased
- Request credit report and review for any errors
- Call: 1-877-322-8228 or go online https://www.annualcreditreport.com/ and pull a report for the deceased
- Equifax:
Contacting Other Agencies:
- Contact credit unions/banks with accounts open in deceased’s name to change account information over
- Contact life insurance policy provider for payments to begin
- Talk to life insurance policy provider to evaluate what life or disability insurance coverage is needed going forward
- Contact creditors to remove deceased’s name from joint accounts
- Close any accounts in the deceased’s name only
- Destroy credit cards in deceased’s name
- Inform creditors how outstanding debt will be covered (by the estate, out of pocket)
- Update name listings on car title by making an appointment at the CO DMV.
- Update deed on house by filling out required forms and filing at the County Clerk’s office
- Contact Social Security Administration to receive survivors benefits
- If applicable: contact VA or labor union for survival benefits
- Cancel any clubs or memberships the deceased belonged to including gyms and professional organizations
Creating a Budget:
- Choose a budget template that works best for your needs
- Look through bank accounts and receipts to understand full picture of finances
- Fill in budget template with required information
- Update budget as needed, evaluate on a weekly/monthly basis
Contact List
Fill in information for each contact with the correct phone number and action step to take when contacting the agency.
Bank #1:
Credit Cards:
Insurance(s):
RESOURCES
Taxpayer Advocate Service: https://taxhelpco.org/
Denver: 303-603-4600
Outside Denver: 877-777-4778
Asset Inventory: https://eforms.com/estate-planning/current-assets-list/
*Download form or will be printed and sent for clients more comfortable non-electronic documents
Probate Process: https://www.courts.state.co.us/Forms/Forms_List.cfm?Form_Type_ID=143
*Download forms necessary or will be printed and sent for clients more comfortable non-electronic documents
Colorado Legal Services (low-income, 60+): https://www.coloradolegalservices.org/node/4/contact-colorado-legal-services
Client can apply online OR find phone number for closest office near them.
Denver Financial Empowerment Center (Financial Advising): https://www.denvergov.org/content/denvergov/en/human-rights-and-community-partnerships/our-offices/office-of-financial-empowerment/financial-empowerment-centers.html
Information for scheduling appointments
Credit Bureaus:
- Equifax:
- 800-525-6285
- O. Box 105069 Atlanta, GA 30348
- Experian:
- 888-397-3742
- O. Box 9701 Allen, TX 75013
- TransUnion:
- 800-680-7289
- O. Box 6790 Fullerton, CA 92834
Debt Collectors: https://coag.gov/app/uploads/2020/10/CARReport.pdf
List of legitimate debt collectors in Colorado
Debt collection consumer complaints: (720) 508-6022
Command+F to search the document for the debt collector
Social Security Administration: https://www.ssa.gov/
Phone: 1-800-772-1213
Email: https://secure.ssa.gov/emailus/
Letters (further assistance required): Social Security Administration
Office of Public Inquiries and Communications Support
1100 West High Rise
6401 Security Blvd.
Baltimore, MD 21235
NOTE: IF YOU CAN COMPLETE THE TASK ONLINE WITH THE CLIENT, PLEASE DO THAT BEFORE CALLING. SSA WAIT TIMES ARE BETWEEN 2-5 HOURS ON THE PHONE.
Car Title Change:
Outside Denver: (find County Motor Vehicle office and then title information from county office) https://www.colorado.gov/pacific/dmv/county-motor-vehicle-offices
House Deed Change: Search “Clerk and Recorder Office [COUNTY] Colorado” and provide client with information to contact office
Budget Template: https://templates.office.com/en-us/personal-monthly-budget-tm33398600
Edit in browser or download
Calendar Template: https://templates.office.com/en-us/any-year-custom-calendar-tm16410086
Edit in browser or download
AARP ELDERWATCH CREDIT REPORT CHECKLIST
Before your first session, please gather the following applicable information:
- Credit card statements
- Loan documents
- Bank statements
- Birth or death certificates
- Divorce decree
Website Links Session #1:
Credit Report: https://www.annualcreditreport.com/requestReport/landingPage.action
Equifax
- Web: https://www.equifax.com/personal/credit-report-services/credit-dispute/#
- Call: 866-349-5191
- Mail: Equifax, P.O. Box 740256, Atlanta, GA 30374-0256
Experian:
- Web: https://www.experian.com/ncaconline/dispute
- Call: 8666-200-6020
- Mail: Experian National Consumer Assistance Center, P.O. Box 4500, Allen, TX 75013
TransUnion
- Web: https://www.transunion.com/credit-disputes/dispute-your-credit
- Call: 800-916-8800
- Mail: TransUnion LLC, Consumer Dispute Center, P.O. Box 2000, Chester, PA 19016
APPLYING FOR BENEFITS AND ACCESSING LOCAL RESOUCRES CHECKLIST
Before your first session, please gather the following information:
- Full name, date of birth and SSN for applicant
- Paycheck stubs for person working and their job(s)
- Benefit check stubs or award letters for types of income such as SSI or Child Support. Know when these benefits started, how much is received and how often
- If someone is self-employed, last year’s tax return for their business.
- How much you pay each month for housing, utilities and someone else’s care
- IF APPLYING FOR FOOD ASSISTANCE: know total amount of money you have in your home and in both checking and savings accounts
Website Links Session 1:
Eligibility: https://coloradopeak.secure.force.com/AC_Welcome?Language=EN
Application: https://coloradopeak.secure.force.com/ABWEL?Language=EN
