The death of a spouse is a highly traumatic event that can leave you emotionally shaken to the core. But despite all the shock and grief you feel, you must summon up enough inner strength and determination to handle the multitude of administrative duties that naturally fall on your shoulders after such an occurrence, including breaking the bad news to family and friends and making funeral arrangements.
While those notification and funeral-related tasks can’t wait, others can and should be addressed only after careful deliberation. We’re talking specifically about major financial decisions such as selling a house, liquidating investments and other assets, or making new investments requiring significant cash outlays. In other words, don’t do anything in the immediate aftermath of your spouse’s death that would substantially alter your current financial circumstances.
That being said, you can’t altogether avoid dealing with money matters, so here are some tips on how to organize your personal finances after a spouse’s death:
While this list is by no means comprehensive, it does cover the basic financial quandaries that most people would have to face after a spouse’s death and should thus be able to serve as a good starting point for getting or staying organized.
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