What happens immediately after a person realizes he died with Christ?
Immediately afterward, the Holy Spirit regenerates the spirit by outside power, restoring fellowship; then He indwells the person as the Holy Spirit. The old sin nature becomes a new divine nature, influencing the body and beginning the Christian walk of growing in grace and knowledge.
Les explains that when the Holy Spirit enlightens understanding and regenerates the old dead spirit, that spirit realizes, "yes, I have died." The ego, the I, the old Adam was crucified, placed on the cross in the mind of God because God did it on our behalf. And then as soon as we do that, yes, He regenerates our spirit by that outside power, the fellowship is restored, and then of course He comes in to dwell in the person of the Holy Spirit. This old sin nature now becomes a new divine nature, and this part of us that has now been generated is now in consort with the eternal God. Now it begins to have its effect on the body, and of course that begins in our Christian walk, and we become then in a place of growing in grace and knowledge. Les also points back to Romans chapter 6, where Paul makes plain that we have to identify with what Christ accomplished on our behalf on the cross, and it was through what He did. He fulfilled that demand of God that the soul that sinneth must surely die, He died my death.