When a spouse passes away, having some difficulties is to be expected. With planning, those difficulties can be limited to emotions and not finances.
Upon losing a spouse one of the biggest problems people often face is understanding and handling family finances. This is a particularly acute issue for many older women who have left management of financial matters primarily up to their husbands. It can also be a problem for older men, if their wives handled everything. Regardless of which spouse predeceases, a lack of knowledge about the finances can cause increased emotional and financial stress at the most inopportune time. This is a mostly avoidable problem. Read more