Losing someone can be a very stressful experience, one that affects many areas of life. Watch our video from Christopher Berté CFP® of Signet Financial Management, which provides helpful steps to take when losing a loved one.
What to do when your spouse dies
There is not one sure way to prepare for the passing of a loved one, especially if that loved one is your spouse or partner. Each decision made has to be meticulously reviewed with dedicated time and effort. This can be very taxing while you deal with the emotions of the situation.
There are, however, active steps you can take to alleviate the financial burden this might have on you and your family. Below is a comprehensive list of these steps:
- Call your attorney
- Contact the Social Security Administration
- Locate the will
- Notify your spouse’s employer
- Contact your spouse’s former employees
- Check with the Veteran’s Administration
- Notify all insurance companies
- Change property titles
- Change titles on jointly-held bank, investment, and credit accounts
- Send a letter to all three major credit bureaus
- Notify your accountant/tax preparer
- Call the financial aid office if you have a child in college
- Work with your financial advisor
Losing a loved one should never be weathered alone
You can never truly be prepared for the death of a spouse or partner. Do not be afraid to ask for help if you find yourself losing a loved one. For more resources, please contact your trusted financial advisor.
Download your free guide. See our checklist of what you should do when you lose a loved one: https://resources.signetfm.com/losing-a-loved-one