When people anticipate that their spouse will pass away, they often have a very difficult time handling everything afterwards. The grief that comes with the loss can make other things seem overwhelming, even for those people who have thought ahead and made careful plans. Things are also much worse when a spouse passes away unexpectedly.
If the deceased spouse was the one who handled most of the financial issues for the couple, things can get even more difficult. However, widows and widowers should not let financial issues bother them too much, as the Green Bay Press Gazette explains in “Financial planning tips for navigating loss of a loved one.”
The truth is that most financial decisions are not nearly as urgent or important as they are often made out to be. Widows and widowers do not have to make any financial decisions, until they are forced to do so. They should not make those decisions before. They should put off as much as they can, until they have had a chance to properly mourn the loss of a spouse.
Financial decisions do not have to be made alone either. If an attorney is helping with the estate administration, the attorney can make sure that all necessary estate financial matters are taken care of and suggest a professional to help with other things.
Things do go much better for widows and widowers, when the deceased spouse has made proper estate planning arrangements. Having an estate plan will greatly help your spouse, if something happens to you. Learn about the fundamentals of estate planning for Profit Law Firm.
Reference: Green Bay Press Gazette (March 9, 2018) “Financial planning tips for navigating loss of a loved one.”