Financial Checklist: Things to do When Your Spouse Dies

Financial Checklist

The death of a loved one is life-altering and can significantly affect your life and the lives of the one related. Having to make legal and financial decisions while grieving the loss of your spouse can be an overwhelming task. But it is also necessary to ensure your financial future is stable. You will also need to accomplish some time-sensitive tasks that need to be completed as soon as your spouse dies. However, not all duties need to be taken care of urgently.

Here is a financial checklist of things to do when your spouse dies:

#1- Gather documents: To begin legal obligations, you will need your spouse’s records to make the process smooth. These documents include the last will, revocable living trust, and death certificate.

#2- Contact your attorney: You will need the assistance of a legal professional who can guide you through the various steps after the demise of a spouse according to your local laws.

#3- Contact your spouse’s employer: Informing your spouse’s employer will give you information regarding his health insurance coverage, life insurance benefits, and other benefits you may be eligible for as a survivor. 

#4- Contact the social security administration: You can gather the details about your eligibility for survivor benefits by contacting your local social security administration.

#5- Contact banks and other financial institutions: You will need to gather information about all the banks and financial institutions your spouse used and inform them about the death. Each institution will have a different procedure to continue with its processes, and a financial advisor can be beneficial to make things simpler.

#6- Continue paying bills: To avoid losing any essential services, continue paying due bills if your spouse used to handle these transactions.

#7- Contact digital service providers: Contact social media platforms, email providers, cloud storage providers, and any other digital service your spouse used. These may be susceptible to identity theft and cybercrime if not discontinued on time.

#8- Contact estate attorney: You will require your estate attorney to handle probate and edit your own will according to your current situation.

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