Who is responsible for managing a deceased person's financial matters?

The next of kin of a deceased person typically holds the responsibility for managing the deceased's financial matters after their passing. This includes handling any debts, settling the estate, and managing the distribution of assets according to the directives laid out in a will or, in the absence of a will, according to state intestacy laws. The next of kin is often recognized by law as having the authority to act on behalf of the deceased's estate and is generally the individual who might have the closest familial relationship, such as a spouse, child, or sibling.

In this context, the funeral home primarily assists with the arrangements and services for honoring the deceased, not managing financial affairs. The state government can be involved when there are issues such as unclaimed estates or if the estate needs to go through probate, but they do not directly manage individual financial matters for the deceased. An insurance company might have obligations related to a life insurance policy, but they do not manage financial matters post-death outside of the scope of the policy itself. Thus, the responsibility ultimately lies with the next of kin.