BoK Statement

Identify possible organizations to be notified upon the death of an individual, such as:
- The deceased’s financial institutions
- The deceased’s employer
- Organizations the deceased was receiving payments from
- Organizations the deceased was making payments to
- Government agencies with which the deceased had relationships or was issued identification
- The Court
Identify documents that may be required by organizations upon the death of an individual, such as:
- Death certificate
- Will
- Documentation appointing / validating estate administrator
Identify the benefits / receipts that should be ceased upon death.
Identify final expenses that may occur upon the death of an individual, such as:
- Funeral expenses
- Probate fees
- Executor fees
- Trust fees
- Legal fees
- Tax preparation fees
- Tax liabilities due to deemed disposition of assets

Glossary of Verbs (mouse over to see definition)

Define

To state exactly the meaning of

Identify

To be aware of / to recognize and correctly name / to locate an appropriate resource

Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it

Compare

To note the similarities and differences between two or more things

Estimate

To determine an approximate value for

Calculate

To find the value using mathematics

Convert

To change from one form or purpose to another

Evaluate

To reach a conclusion or make a judgement through careful study

Interpret

To give the meaning of / to construe or understand / to translate orally

Read more about the Taxonomy used in the FP-BoK

Financial Planning Body of Knowledge