My father (58) passed away unexpectedly last week. I (29) am trying to get all of his assets/liabilities in order. I have two younger sisters (both 26) that are looking to me to handle this. As my father passed away unexpectedly and had not prepared for this I have had to follow paper trails. Although sorting through it has been a pain, he thankfully never threw out any paperwork.
Here's what I currently know:
401K with Principal that amounts to ~$415k
BOA Checking Acct: ~$4k (Fortunately he put me on his account 2 months before he passed)
CC Debt: He has approx. 4 CC's with debts totaling ~($40k)
Trusts: Supposedly my grandfather set up a few trusts for my father, sisters, and I. I'm not aware of the amount nor any stipulations to these trusts. I'm trying to find that information out now.
Life Insurance - None that I'm aware of, although I'm searching through the mounds of paperwork. He was not employed full time at the date of his death and the only private life insurance I'm aware he once had expired 8 years ago.
I have strongly thought about reaching out to a specialized accountant for this, but any advice on how to proceed with the situation would be greatly appreciated. Thank you.
Submitted December 22, 2018 at 12:49PM by 51questionsfordad http://bit.ly/2GDom12
