On Your Own: Financial Advice After Losing Your Spouse
It’s a day you hoped would never come. Your spouse has died. Your world is turned upside down, leaving you vulnerable and bereft. And as you are dealing with your grief and loss, you will be required to make critical legal and financial decisions in the coming days, weeks and months. It can be overwhelming, especially if your spouse was the one who managed your financial and legal affairs.
It’s a familiar scenario. According to U.S. Census data, about 800,000 Americans are widowed each year, most of them women. In 2014, there were 14.2 million widowed adults nationwide, including 24.7% of the population age 65 and older.1
Although there are some things you must deal with immediately, it is important to be cautious, take your time, and seek professional advice before making decisions, especially on matters that are not as urgent.
Interested in reading about financial planning after the loss of a spouse?
Tell us a little about yourself to learn more:
- Which documents will be most important to prepare immediately after a spouse’s death
- Details about updating accounts, registrations, and beneficiaries
- How to create a new long-term plan to meet your financial needs