Something Has Happened- Where To Begin

If you’ve lost a close family member, you’ve probably experienced needing to make final arrangements, settling final bills, going through financial records, etc. While it may not be at the very top of the list of things to do during this emotional time, surviving spouses should look at several estate planning considerations in the year following the death of their partner.

Losing a spouse is like losing half of who you are. This tragic event comes with not only adjusting to a life without your loved one but also navigating the unfamiliar territory of finances. This can be especially true for women who have been accustomed to leaving financial matters to their husbands. There are many considerations to keep in mind when navigating this new territory.

Who Will Manage Your Assets If You Are Incapacitated? Incapacity means you are unable to make decisions for yourself. Incapacity may result from an injury, dementia, stroke, heart attack, etc., and may be temporary or permanent. If you are unable to conduct business due to incapacity, having a will does not help. A will can only deal with what happens after you die.

After losing a spouse or longtime partner, it’s difficult to look past your grief. However, it’s crucial to understand the important and timely decisions you must make regarding your finances and personal estate plan. Estate planning is an ongoing process, as it accounts for changes in marriages, deaths, divorces, and births of children and grandchildren. Assuming your spouse left an updated estate plan before their passing can have disastrous consequences.

Losing a spouse is an incredibly difficult experience that requires making important financial and legal decisions during a time of grief. This guide to estate planning for widows and widowers helps you navigate the process of managing assets, updating your estate plan, and protecting your family’s future.