The unthinkable has happened, your beloved spouse has passed away. Whether they were young or old, the prospect of continuing on without your spouse by your side is daunting. In the US, the median age of a widow according to the US Census Bureau is 59.4.1 Losing your spouse is one of the most difficult things a person can go through in their lifetime and it has always been an honor to be a trusted resource in helping clients navigate this process financially.
I’ve spent many hours of my career sitting around a table with my clients, piles of papers and a box of tissues. In many instances my clients have not been involved in the day to day finances, making the process of settling their spouse’s estate and moving forward incredibly overwhelming. Involving your financial professionals early can allow you to remove much of the stress surrounding your financial landscape to create space to grieve and focus on yourself. While you shouldn’t be making life changing financial decisions in the early days and weeks after losing your spouse, you could benefit from the peace of mind that a simple financial analysis could bring. Not only can your financial advisor help you prioritize the order in which to do things, they can give you a preliminary idea of what the future could look like. For example, do you need to worry about going back to work or moving right away or can it wait?
While you may not be able to picture what your new future looks like, allowing a financial professional to guide you through the financial aspect of your loss will ensure that when you’re in the right mindset to think about the future, that your finances will be ready for you. Remember, in the midst of loss, there is room for financial clarity and peace. At Beden Wealth, we can navigate this journey together and rebuild your path forward.