Bereavement Guidance

What to Do When a Loved One Passes

Our Condolences

Please know that you have our deepest condolences during this time. It is always hard when a family member or loved one passes. It is our hope that the enclosed information serves as a resource for you to help reduce stress and burden during your time of loss. If you have additional questions, we’re here for you and are ready to help.

Please note – Power of Attorney (POA) is lifelong and ceases upon your loved one’s passing.

To begin the process:

• Contact us at 217-224-1093. An employee will work with you to review initial steps and to begin the process.

Depending on account ownership, we may need an original or certified copy of the death certificate and certificate of appointment.

Helpful Information

If your loved one was receiving government payments by direct deposit from a federal paying agency (such as Social Security, Department of Veterans Affairs), you must notify them of the death as soon as possible.

UCCU is required to return any government payments made after the date of death in the decedent’s Social Security number. This can be a complicated and challenging process. Helpful numbers are below to assist in this process.

Agencies you may need to contact

Social Security Administration – 800.772.1213

Department of Veterans Affairs – 800.827.1000

Step 1 • Obtain the death certificate.

A best practice is to ask for multiple copies in case certain institutions will need an original copy versus a printed copy. Often, the funeral director can help you obtain the certificate, but additional copies may need to be received from the vital statistics office within the county where the decedent passed.

Step 2 • Contact Financial Advisors and Institutions

As executor, financial institutions can give you information on what assets your loved one had at their institution. Unsure of where your loved one had an account? Keep an eye on mail they have saved for record keeping, are still receiving at their residence, or have reported on tax records. If they have worked with an accountant prior, contact that accountant for assistance in locating those assets, including any retirement benefits or plans you may be unaware of.

Step 3 • Contact Insurance Companies

If your loved one had life insurance, you will need to file a claim form to receive the beneficiary benefit or payment. Contact the life insurance company, provide the death certificate and policy number, and they will help to disburse the payment to the beneficiary or beneficiaries.

You will need to contact other insurance companies (medical, auto, renters, etc.) to stop payments and receive any prorated refunds owed to the decedent. These companies will require a copy of the death certificate as well.

Step 4 • Contact Government Agencies

Often, the funeral director will notify Social Security of your loved one’s passing, but it never hurts to double-check. You’ll also want to notify Medicare, Veterans Affairs or any other agency that had provided benefits to your loved one. If notification isn’t made and payments do not stop, you may need to go through a lengthy and complicated

repayment process. Spouses and other dependents of the deceased are often eligible to receive survivors’ benefits, so be sure to ask when you talk to the agencies.

Step 5 • Contact DMV

Contact the Department of Motor Vehicles to cancel a license and voter registration, and the post office to decide where to forward the deceased’s mail. Whoever receives the mail can then determine which subscriptions or accounts need to be canceled.

Step 6 • Notify Credit Report Agencies

Notify all credit reporting agencies of your loved ones passing (Equifax, TransUnion, and Experian). This will prevent any fraudulent credit accounts or identity theft from happening. If you believe there has been fraudulent activity, contact the appropriate agencies and authorities to dispute those.

Step 7 • Prepare Final Tax Filings

Final tax filing needs to be prepared and submitted for your loved one’s estate. If you need assistance in doing so, it is recommended to contact an accountant, tax attorney, or other tax professionals to help you with this process.

Disbursement of Funds:

1. Individual Acct with Beneficiaries:
   Funds will be disbursed equally among all beneficiaries.
   We need: Death Certificate, ID

2. Individual Acct without beneficiaries:
   If the balance is under the state allowed limit, a small estate affidavit may be filled out and presented by the rightful recipient of the funds. In Illinois, the total assets must be under $100,000 and the funeral expenses must be paid. In Missouri, the total assets must be under $40,000 and must come from the court.

   We need: Completed Small Estate Affidavit, ID of recipient(s), and Death Certificate
   If the funds are over the state allowed limit, an estate will have to be opened and funds will go to the estate. We need: Official Estate Documents, Death Certificate.

3. Joint Account with or without beneficiaries.
   Joint owner will sign new account agreements and take over as account owner.