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Losing a spouse can be one of the hardest things a person can go through. In this video we cover three things you should do.
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This does not constitute an investment recommendation. Investing involves risk. Past performance is no guarantee of future results. Consult your financial advisor for what is appropriate for you.
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0:00 3 Things to You Should Do
1:35 1. Get Organized
2:49 2. Get Your Team Involved
4:35 3. Give it time…(read more)
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Losing a spouse is one of the most challenging experiences a person can go through. The grief, shock, and overwhelming sense of loss can make it difficult to know what to do next. If you find yourself in this situation, here are three important things you should consider doing after your spouse dies.
1. Take care of yourself: It’s important to prioritize your own well-being during this difficult time. Make sure to take care of yourself by eating healthy meals, getting enough sleep, and reaching out for support from friends and family. Grief can take a toll on your physical and emotional health, so it’s crucial to prioritize self-care in the days and weeks following your spouse’s death.
Consider seeking therapy or counseling to help process your emotions and work through your grief. Grieving is a personal journey, and it’s important to give yourself grace and space to mourn in your own way. Don’t be afraid to lean on others for support and seek help when you need it.
2. Handle practical matters: After your spouse dies, there are several practical matters that you will need to attend to. This may include notifying family and friends, arranging for the funeral and burial, and obtaining multiple copies of the death certificate. You may also need to update your spouse’s will and estate plan, as well as handle any outstanding financial accounts or obligations.
It can be overwhelming to navigate these practical matters while also dealing with grief, so don’t hesitate to reach out for help from trusted friends, family members, or professionals. Consider enlisting the help of a lawyer or financial advisor to help you navigate the legal and financial aspects of your spouse’s death.
3. Seek closure and support: Grieving the loss of a spouse is a complex and emotional process. It’s important to allow yourself time and space to grieve in your own way and seek closure in a way that feels right for you. This may include creating a memory book or holding a memorial service to honor your spouse’s life and legacy.
Seeking support from others who have experienced similar losses can also be helpful in navigating your grief journey. Consider joining a support group for widows and widowers, or connecting with a grief counselor or therapist who can provide guidance and support as you work through your emotions.
Losing a spouse is a profound and life-changing experience, and it’s important to be gentle with yourself as you navigate this difficult time. By prioritizing self-care, handling practical matters, and seeking closure and support, you can begin to heal and move forward in your grief journey. Remember, it’s okay to lean on others for support and seek help when you need it – you don’t have to navigate this journey alone.
you remind me of somebudys cousen
Your info wasn’t helpful as I live in Australia.
I lost a spouse in 2002. I made a few errors and did a number of things right. Error, she had a small IRA that I liquidated. That wasn't the best choice. On advice of my CPA, I had my home appraised. That moved my basis from 33,500 to about 500,000. Later when I sold the house, no capital gains were due. Huge choice. "Always have assets appraised" to receive the step up in basis.
I did slow things down. She passed away 4 days before Christmas. so I set the memorial date to after Easter. That avoided inconvenience for all and also moved it to time that from a religious view more in keeping.
I didn't know about assuming the estate gift exemption but it wasn't really useful at that point in my life. Push on that one.
I pulled credit reports on my spouse and started a notebook. I tried to list everything. Magazine subscriptions, accounts I knew of, one that I discovered on the credit reports. As bills came in and magazine arrived, I logged them. I logged all contacts. In many cases, refunds were issued. Whatever the form, don't jot notes on scraps of paper or try to remember, create a single place, a journal, and note all contacts. It takes a lot of time to close the door.
I was fortunate as I was the major breadwinner and thus had no real financial issues that changed my situation.
Disposal of personal items was hard for me and took too long. Engage a charity that just take everything. I spent too much time trying to give things to people that might want them. Don't do what I did. Too hard, too painful for all concerned.