The deceased are vulnerable for many reasons, but primarily because information about their death is readily available through public death notices and obituaries in the newspaper. It is not as difficult as one might think to use that information to obtain the deceased’s social security number and other personal information. The thieves then use that information to open credit card accounts, apply for loans, file tax returns and obtain goods and services like cellphones.
You can protect your deceased loved ones from identity thieves. The surviving spouse or personal representative of the deceased’s estate can
do the following:
1. Obtain and keep copies of the official death certificate. Do not include the deceased’s birth date, mother’s maiden name or home address in obituaries.
2. Send a copy of the death certificate (by certified mail, return receipt requested) to the three national credit reporting agencies (Equifax, Experian and Transunion) and request that a “Deceased Alert” be place on the deceased credit report.
3.Notify the deceased’s credit card companies, banks, loan and lien holders, mortgage companies and stock brokers of the deceased’s passing.
4.Notify the Social Security Administration, insurance companies, the Department of Motor Vehicles and all professional and recreational membership holders of the deceased’s passing.
Be sure to follow up. Check the deceased’s credit report for suspicious activity. If you suspect your deceased loved one has been the victim of identity theft, file a police report and notify the companies involved that the individual is deceased. Make sure that you request a “Letter of Clearance” for any fraudulent debts.
Read more articles like this in the March 2014 issue of the Family Wealth Compass, courtesy of Gunster’s private wealth services attorneys.
Additional topics in this issue include:
- 2014 inflation-adjusted estate and trust tax brackets; surtax on investment income and gains
- Choosing a trustee: individual or corporate?
- Beneficiary designations – do you know where your assets are going?
- Best practices for administration of insurance trusts
- Net, net gift reduction upheld!
Mystery man image courtesy of Idea go / FreeDigitalPhotos.net
