Master Action Checklists (Step-by-Step)
Click on any phase below to view and check off your completed items. Checkboxes automatically save your progress.
Immediate 72-Hour & Week 1 Priority Tasks
Phone & Email Digital Asset Discovery Checklist
Spousal Debt Protection & Credit Audit Checklist
Military Retiree & Employer Benefits Checklist
134 Cambria Walk Title & Sale Execution Checklist
Discovered Assets & Liabilities Ledger
Use this interactive log to record newly discovered accounts, bank names, estimated balances, and legal status as Lilia finds them.
| Institution / Account | Type | Est. Amount | Legal Status & Action | Actions |
|---|
Interactive Net Sale Proceeds Calculator
Adjust the sliders to see how sale prices, mortgage balances, and repair estimates affect Lilia's net cash in real time.
Post-Sale Monthly Passive Income Calculator (iShares SGOV ETF)
If Lilia sells the home and nets ~$225,000, see how investing $200,000 in iShares SGOV ETF while keeping $25,000 emergency cash generates safe, monthly cash flow.
- Ticker: SGOV (iShares 0-3 Month Treasury Bond ETF)
- Monthly Dividends: Direct cash payout deposited to her bank monthly
- Ultra-Low Fee: 0.05% expense ratio ($5/yr per $10k invested)
- Tax Benefit: 100% Exempt from State & Local Income Taxes
Property Decision: Sell vs. Rent Analysis
Comprehensive cost-benefit comparison based on $650k mortgage and $15k repairs.
Option A: Repair & Sell Now
- $223,250 Liquid Cash: Wipes out the $650,000 mortgage liability.
- 100% Tax-Free: IRS Sec. 121 & 1014 rules mean $0 capital gains tax.
- Zero Monthly Risk: No mortgage payments, HOA, or maintenance.
Option B: Rent Out Property
- Negative Cash Flow: -$1,123/mo deficit ($650k loan exceeds rent).
- $15,000 Upfront Cash: Pay $15k cash for repairs out-of-pocket.
- Landlord Burden: Tenant management & vacancy risks.
Recommendation Walkthrough: Why Selling is the Safest Path
When comparing Option A (Selling) and Option B (Renting), the financial data reveals a clear and stark reality. Keeping the property as a rental with an active $650,000 mortgage is a severe financial risk for Lilia.
The Renting Deficit (Cash Drain)
Alexandria market rent is capped at ~$3,800/mo. However, the mortgage payment ($3,320/mo), HOA ($250/mo), property taxes ($823/mo), and management fees ($340/mo) total ~$4,923/mo. Lilia would be forced to pay $1,123 out-of-pocket every month just to keep the home, resulting in a -$28,476 loss in Year 1 alone.
The Selling Advantage (Tax-Free Wealth)
Selling now eliminates the $650,000 debt entirely and releases +$223,250 in liquid cash. Under IRS Sec. 1014 (step-up in basis) and Sec. 121 (home sale exclusion), Lilia pays $0 in capital gains tax. Reinvesting this cash into SGOV (Treasury ETF) yields +$700/mo in passive income with zero landlord stress.
Summary Decision: Renting requires Lilia to subsidize a tenant with her own savings, whereas selling liquidates the estate equity into a tax-free cash cushion that generates immediate, risk-free passive income.
Valuation Justification & Sources of Truth
Direct Neighborhood Comps
- 112 Cambria Walk: Sold for $985,000 (June 2023) — identical 4-story Winslow model.
- 105 Cambria Walk: Sold for $965,000 (Sept 2025) — direct layout & size comp.
- 129 Cambria Walk: Sold for $887,000 (May 2025) — smaller 3-story trim.
Source: Alexandria Clerk of Circuit Court public land sale records.
IRS Tax Treatment (Sec. 121 & 1014)
- Step-Up in Basis (Sec. 1014): The home's cost basis resets to the fair market value at the time of her husband's passing, eliminating years of accumulated capital gains.
- Home Sale Exclusion (Sec. 121): As a surviving spouse, Lilia retains a $500,000 capital gains exclusion for up to 2 years after death, resulting in a $0 tax liability.
Repair Investment ROI ($15,000)
- Listing Upgrade: Upfront cosmetic repairs (paint, touch-ups, staging) allow listing at $950k–$975k.
- Avoid "As-Is" Penalties: Selling without repairs attracts low-ballers demanding a $30,000–$40,000 discount.
- ROI Yield: The $15,000 investment captures an estimated +$35,000 to +$50,000 in market value.
Official Alexandria Land Records & Encumbrances
Public deed history, recorded mortgages, HOA covenants, and official city search portal links.
Recorded Title & Deed Summary
Mortgages & HOA Encumbrances
Official City & State Search Links
Sole-Owner Bank Account Email Tool
Copy this pre-formatted email to send directly to bank bereavement departments.
SUBJECT: Estate Notification & Account Inquiry - [Deceased Husband's Full Name] (SSN ending in XXXX)
To the Estate & Bereavement Services Department,
My name is Lilia [Her Last Name], and I am writing as the surviving spouse of [Deceased Husband's Full Legal Name], who passed away on [Date of Death].
I am contacting you to officially notify [Bank Name] of his passing and to inquire about all checking, savings, CD, investment, or credit accounts registered under his name and Social Security Number.
Deceased Account Holder Details:
- Full Legal Name: [Deceased Husband's Full Legal Name]
- Date of Birth: [MM/DD/YYYY]
- Social Security Number (last 4 digits): XXX-XX-[XXXX]
- Known Account Number(s): [Account Number or "Unknown / Please Search SSN"]
- Residential Address: [His/Her Home Address]
As his surviving spouse, I kindly request your assistance with the following:
1. Please confirm all active accounts associated with his Social Security Number.
2. Please confirm if I am designated as a Pay-on-Death (POD) or Transfer-on-Death (TOD) beneficiary on any of these accounts.
3. If no beneficiary is designated, please provide your bank's specific requirements, forms, and small estate threshold for releasing funds to a surviving spouse.
Attached to this email, please find scanned copies of:
- Official Certified Death Certificate
- Official Marriage Certificate
- My Government-Issued Photo ID (Driver's License)
Please advise me on the next steps for transferring or settling these accounts. You can reach me by email at [Her Email Address] or by phone at [Her Phone Number].
Thank you for your guidance and support during this difficult time.
Sincerely,
Lilia [Her Last Name]
Surviving Spouse
Phone: [Her Phone Number]
Email: [Her Email Address]
All Uploaded Files & Documents
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