Abney Associates Team A financial advisory practice of Ameriprise Financial Services, Inc.

Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult. Financial Advisory Abney Associates

NOTIFY OTHERS

When your spouse dies, your first step should be to contact anyone who is close to you and your spouse, and anyone who may help you with funeral preparations. Next, you should contact your attorney and other financial professionals. 

Your life insurance agent can assist you with the claims process, or you can contact the company's policyholder service department directly. You may also wish to consult with a financial professional, accountant, or tax advisor to help you organize your finances.

LOCATE IMPORTANT DOCUMENTS AND FINANCIAL RECORDS

Before you can begin to settle your spouse's estate or apply for insurance proceeds or government benefits, you'll need to locate important documents and financial records (e.g., birth certificates, marriage certificates, life insurance policies). s.

If you've ever felt frustrated because you couldn't find an important document, you already know the importance of setting up a filing system. Start by reviewing all important documents and organizing them by topic area. Finally, be sure to store your files in a safe but readily accessible place. That way, you'll be able to locate the information when you need it. Ameriprise Abney Associates

SET UP A PHONE AND MAIL SYSTEM

During this stressful time, you probably have a lot on your mind. To help you keep track of certain tasks and details, set up a phone and mail system to record incoming and outgoing calls and mail. 

- Don't think about moving from your current home until you can make a decision based on reason rather than emotion.

- Don't spend money impulsively. When you're grieving, you may be especially vulnerable to pressure from salespeople.

- Don't cave in to pressure to sell or give away your spouse's possessions. Wait until you can make clear-headed decisions.

- Don't give or loan money to others without reviewing your finances first, taking into account your present and future needs and obligations.

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