Reply to What’s the process of inheriting money?

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[quote=Anonymous]You will need to provide death certificates for each of the financial institutions.  And they will tell you about what paperwork needs to be filled out.  Sometimes you'll have to get a notarized signature that you are who you claim to be, etc.  It's a bureaucratic process that can take a several months.  And you won't be able to change the investment mix until you gain control of the accounts, so depending on how the market is, the value on date of death may be significantly up or down from the time you actually gain control of the assets.

Keep a file of the value of these assets on the date of death, as that's their new basis for future sales.

I'm not sure why it's a problem for your names to be on the bank account now - I assume you'll have immediate access to them.

And there is probate for the assets that need to go through probate.

Keep communication open with your sibling to help manage the anxiety and expectations.  Let them know that the process will likely take many months, and may stretch to a year or more.  
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