Financial moves for widows and widowers

    If you’ve recently become a widow or widower, coping with your grief can seem like a full-time struggle.
   Unfortunately, the business of life must go on – and the financial moves you make at this time can have a big impact on your life.
   For starters, don’t rush into any rash decisions, such as selling your home.
  You’ll have time for these choices later.
   However, you will need to consult with your estate planning professional to implement arrangements such as a will or living trust.
   Also, contact your life insurance agent about dealing with death benefits from your spouse’s policy.
   And you’ll want to change the name on your joint financial accounts and address any outstanding bills in your spouse’s name.
   Finally, think about your own future.
   You may need to revise your estate plans and insurance policies.
   And talk to your financial advisor about what moves you may need to make with your investments.
   Only time can ease the pain of losing a spouse.
   But by taking care of the mundane matters of daily living, you can help alleviate the feelings of being overwhelmed.
   This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC. 

 

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