DECEMBER 7, 2017 HANDLING GRIEF AND FINANCES: WHEN A SPOUSE IS VERY ILL OR HAS JUST DIED No matter how openly you and your spouse have discussed end-of-life matters, few people are ever fully ready to face the major grief and financial issues that develop right before or after a death. Therefore, start thinking about the various steps you’ll need to take to regain a sense of balance once your loved one passes away – particularly if you have limited financial assets.
The following tips can help you keep functioning effectively at this difficult time – and they can help you begin searching for the new resources you’ll need in the future.
Should Your Spouse Still Be Alive – Talk Openly About Your Finances
This suggestion is especially critical if you haven’t been the one handling all the monthly bills and monitoring all your investments. If your spouse cannot communicate easily, then go ahead and schedule appointments with your estate attorney and accountant to be sure you understand the full nature and extent of all your separate and community asset accounts. Also, try to locate all the usernames and passwords tied to every online financial account.
If you don’t already have one, consider buying an address book so you can alphabetically keep track of all online banking and investment account usernames and passwords. Make sure all this information is current and accurate.
Here are some additional bits of advice gleaned from a recent New York Timesarticle and other sources. They should help you carefully address most of your emotional and financial issues.
Useful Ways to Manage Your Grief & Make Sound Financial Decisions
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