Losing a spouse is an emotionally devastating event that abruptly brings an array of financial and administrative tasks. In the fog of grief, there is no easy guidebook for what can seem like trivial details and yet can have significant, long-term impacts. It is crucial to rely on gentle, expert guidance to walk alongside you to inform and coordinate as you take over the reins. The following article outlines a sample list of tasks we use with clients to help ensure financial stability and honor your spouse’s wishes, along with a few non-financial online websites our clients have found helpful.
Immediate Steps After a Spouse’s Death
- Follow any organ or body donation instructions provided by your spouse: Respecting your spouse’s final wishes is a priority. Ensure that any instructions regarding organ or body donation are carried out promptly.
- Select/contact a funeral home: Meet with the funeral director to discuss costs, special arrangements regarding burial or cremation, ceremonies, and the next steps. You will likely need 10 or more death certificates to claim survivor benefits, insurance, and close accounts.
- Notify immediate family, important friends, and your partner’s former employer: Initially, keep the contact list short and allow those around you to help spread the word and support during this challenging period.
- Prepare an obituary and distribute It: Share the obituary with local newspapers and social media as deemed appropriate to inform the wider community.
- Set up a system to track inbound connections: Acknowledge the support from friends and family by tracking connections and later sending thank-you cards or other means of appreciation.
For more detailed personal reflections and shared experiences, you can visit Option B which offers resources, inspiration, and community.
Taking Time to Grieve and Address Immediate Needs
In the weeks following the loss, it’s essential to take time for private grieving and seeking comfort from close friends and family. Avoid rushing into major decisions and begin to address some crucial administrative tasks.
- Review/obtain your own health care coverage: Ensure your health care coverage is intact, especially if it was previously through your spouse’s employer. You may be eligible for COBRA benefits. Visit your doctor to ensure your health is managed during this stressful time, and seek additional counseling if needed.
- Obtain and review important financial and legal documents: Collect and review documents such as bank and retirement accounts, insurance policies, wills, and trusts with your financial advisor or legal counsel. This can provide clarity and direction.
- strong data-renderer-mark=”true”>File a Social Security Benefits Claim: Visit the local Social Security office or go online to file a claim. Request Publication No. 05-10084: Social Security Survivor Benefits. Both you and your children under 18 may be eligible for benefits.
- Contact insurance companies: File and collect life insurance benefits and adjust policyholders on auto, homeowners, or other insurance policies.
- Collect other survivor benefits: Ensure you collect all available benefits, such as veteran or pension, through your spouse’s former employer.
For help dealing with the unknown terrain of grief, visit David Kessler’s website, Grief.com.
Managing Financial and Legal Affairs
In the months following your spouse’s death, you can begin to address financial and legal tasks more thoroughly.
- Close bank and credit card accounts: Close any accounts solely in your spouse’s name.
- Remove your spouse’s name from joint accounts and assets: To avoid future complications, ensure that joint accounts and property reflect your name solely.
- Roll over your spouse’s IRA(s) into your own: Consult with your financial advisor to properly roll over any IRAs, which can help manage your retirement planning.
- Review and Reevaluate Investments: Work with your financial advisor to reassess your investment strategy and risk tolerance, ensuring it aligns with your new financial situation.
- Follow up on estate settlement: Regularly check with your estate attorney and/or tax professional to ensure the estate settlement progresses as planned.
- File an estate tax return: If required, file an estate tax return within nine months of your spouse’s death.
- Update or create a new will and estate plan: It is essential to reflect your new circumstances in your will and estate plans to ensure your wishes are honored.
Navigating the complexities of widowhood is challenging, but with the proper support and resources, it is possible to find stability and direction. We are here to help with your support network during this difficult time.
