Hopefully you are reading this article prior to the death or incapacitation of your spouse. If your spouse has recently passed away, please accept our sincere condolences.
Numerous organizations have offered helpful suggestions for coping with the loss of a loved one. One that is repeatedly mentioned is well summarized by CancerCare when they say, “Wait to make major life-changing decisions. While you are grieving, it is hard to bring clear judgment to major life decisions. If you can, wait to make these kinds of decisions until your feelings of grief are less intense.” While this period of cloudy thinking varies, it is not uncommon for it to last at least a year.
But, how do you avoid major decisions when you need to deal with Social Security, life insurance policies, IRAs, estate matters, tax preparation, bill payments, cash flow management and other pressing financial decisions? Worse yet, what if your spouse mainly handled these matters?
This is one of the advantages of starting a relationship with a financial planner before these inevitable life events occur. Starting now gives you time to develop confidence in your advisor. It also permits him to become familiar with your financial situation and to suggest estate planning and other steps that the two of you can take to be prepared.
Guidepost Financial Planning would be honored to help you with this difficult and important part of your life. Please visit our website or give us a call at 970.419.8212 so that we can discuss your financial goals in a no-charge, no-obligation initial meeting.
This article is for informational purposes only. This website does not provide tax or investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Please consult your tax or investment advisor for specific advice.