What to Do First when Spouse DiesPosted on February 7, 2021 by shieldsandboris
Forbes’ recent article entitled ‘Checklist for Handling the Death of a Spouse” tells us what to do when your spouse passes away:
Get Organized. Create a list of what you need to do. That way, you can tick off the things you have done and see what still needs to be done. Spending the time to get organized is critical.
Do an Inventory. Review your spouse’s will and estate plan, and then collect the documents you will need. Use a tax return to locate various types of financial assets.
Identify the Executor. The executor is the individual tasked with carrying out the terms of deceased’s will.
Get a Death Certificate. Request multiple copies of the death certificate, maybe at least a dozen because every entity will need that document.
Contact Your Professional Advisors. You will need to tell some professionals that your spouse has passed away. This may be your CPA, your estate planning attorney, financial advisors and perhaps bankers. These contacts will probably know nearly everything that is required to be done. You will also need to contact the Social Security Administration and report the death.
Take a Step Back. Take a breath. You should take the time to process your emotions and grieve with the other members of your family. Check on everyone and make sure the loved ones remaining are doing all right.
Avoid Making Any Major Decisions. Do not make any major financial decisions for a year. This includes things such as selling a house or making a lump sum investment. After the death of a spouse, you are emotional and looking for advice. It is easy to be pressured into making a decision that might not be in your best interests. Allow yourself permission to be emotional and not make any decision because you recognize you are grieving.
Make Certain Your Spouse’s Wishes Are Carried Out. The best way to honor your spouse is to make sure their requests and wishes are carried out. You are the only individual who can do that. Your spouse expects you to take care of their last wishes the way they had intended. If you need additional information, contact our office or request a Free copy of our book, “What To Do When A Love One Dies.”
Reference: Forbes (Aug. 28, 2020) ‘Checklist for Handling the Death of a Spouse”
A Guide to Alzheimer's Care
Planning for someone who has Alzheimer’s disease can be complicated. Proper planning in advance can help alleviate many frustrations as the disease progresses. The time to act is now. Learn the steps for proper planning from our eBook to ensure that things are handled according to your wishes and that you’ve taken the best steps possible to protect your loved ones and your family’s financial security.
When Someday Arrives
We wrote this book for retirees and child caregivers as a tool to allow you to stay at home as long as possible and as a guide of what to do if you or a loved one cannot stay at home. We believe every family has a legacy to protect, and it is our job to protect that legacy. The greatest risk to today’s retiree is a long-term care health crisis. Request your copy today to prepare for what the future holds.
What To Do When A Loved One Dies
Consumers and financial planners, use this book as a down-to-earth primer of estate planning and elder law! Learn about the duties, rights, and responsibilities of the executor or administrator of an estate and what you should expect from competent legal counsel when you have to probate an estate. Find tools such as a guide to help you retain competent counsel and even an estate organizer so you can organize your own affairs.
Don't Go Broke in a Nursing Home
Take back control of your life and provide excellent long-term care for your aging loved ones without going broke in the process. Find creative financial strategies to protect your assets and the quality of care you receive. In addition, learn about little-known tax incentives, how to choose the right home care providers, long-term care facilities, and how to manage the crisis.