Estate Planning 101

Notifying Equitable Holdings After a Loved One’s Passing

September 13, 2023

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When a loved one passes away, amongst many responsibilities one has to undertake is notifying various organizations, including pension providers like Equitable Holdings. This is to ensure any pension payments are stopped and potential survivor benefits can be arranged.

Who Should Be Notified

Equitable Holdings, if it's the company your loved one has a pension plan with, should be notified in the event of their passing. This would include any financial advisors associated with the pension plan.

When to Notify

You should notify Equitable Holdings as soon as possible after the death of a loved one. This is to stop any further pension payments and prevent overpayments which may later need to be repaid.

How to Notify

You can notify Equitable Holdings by calling their customer service line. Additionally, a written notice may be required. Be prepared to provide the deceased's policy number, full name, date of birth, and a copy of the death certificate.

What to Expect After Notification

After notification, Equitable Holdings will stop any ongoing pension payments. They will guide you through the next steps, which may include processing any death benefits and transferring the pension fund. It's also possible that the remaining pension may be paid out as a lump sum or transferred to a spouse or other beneficiaries.

Tips for Notification

When contacting Equitable Holdings, keep a record of all correspondence. This includes noting down the date and time of phone calls and the name of the person you spoke with. It's also a good idea to send any necessary documents, such as the death certificate, by certified mail so you have a record of its receipt.

Conclusion

While it's a difficult task, notifying the pension provider after a loved one's death is crucial. This ensures the deceased's account is handled properly, payments are stopped, and potential benefits are processed for survivors. Having a clear understanding of the process can help make this task a little easier during a challenging time.

FAQ

Q: Can I notify Equitable Holdings online?
A: Currently, there is no online process to report a death to Equitable Holdings. You must call them or send a written notification.

Q: What if my loved one received overpayments after their death?
A: If Equitable Holdings was not notified promptly and continued to make payments, they would typically request this money back. It's best to discuss this situation directly with Equitable Holdings.

Q: Who is eligible to receive survivor benefits?
A: Usually, the spouse is the first eligible recipient for survivor benefits. However, if there is no surviving spouse, children or other named beneficiaries may be eligible. This would be based on the specifics of the pension plan held by the deceased.