Navigating Finances After Losing a Spouse: Strategies & Mistakes to Avoid
In This Episode:
Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.
We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you’re concerned with ensuring the financial well-being of your remaining family members and safeguarding your financial future and legacy in the face of loss.
Here’s some of what we discuss in this episode:
Two of the most common challenges widows face are the income gap and changes in tax filing.
What are your Social Security and pension options when you lose your spouse?
There are strategies and planning steps you can take now to help cover that loss of income.
The common mistakes we see when it comes to taking care of the kids and grandkids.
Ryan shares his opinion of a trust and the benefits for having it.