Loss of a Spouse
- Financial tips for unmarried couples
Although unmarried couples share many of the same financial concerns as married couples, they lack many of the legal advantages and protections of marriage. As an unmarried couple, you and your partner need to discuss financial matters and how you'll manage them. Who will pay the bills? Will you share household expenses and a joint checking account, even hold joint credit cards? Since neither partner will qualify for spousal benefits from Social Security and traditional pension plans, you'll need to be creative in planning for your partner in retirement. For unmarried couples, proper estate planning is essential.
- Organizing Your Finances After Your Spouse Has Died
Losing a spouse or partner is a stressful event. Yet, during this time, you must complete a variety of tasks and make important financial decisions. You may need to make final arrangements, notify various businesses and government agencies, settle your spouse's estate, and provide for your own financial security. Fortunately, there are steps you can take to make dealing with these matters less difficult.
- Organizing your finances when your spouse has died
Losing your spouse is difficult enough, and still you must organize your finances and settle the estate. Ask those close to you for help, and contact your attorney and other financial professionals. For information on applying for benefits, call life insurance companies, government agencies, and your spouse's employer. You may want to set up one system for filing important documents, and another for recording incoming and outgoing calls and mail. Also, evaluate your short-term income and expenses, but put off making any major decisions until you can do so with reason, not emotion.
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