| Nobody likes to think about losing a loved one, and | | | | be transferred to an account in your name only. (You |
| often when it occurs, we have no idea where to turn.If | | | | will need to use one of those death certificate copies |
| you are not prepared, the paperwork will hit you after | | | | for this.) In many instances, you will be able to |
| your spouse's death in an apparently overhwelming | | | | renegotiate the terms of outstanding loans with your |
| deluge. It is tough to get through it even when you are | | | | banker if your financial status is shaky. If your husband |
| prepared. A to-do list is prepared for you here.1. Get a | | | | had a brokerage account, ask his broker to give you a |
| grip on your assets. Find out what you have to work | | | | value on his account at the time of his death. Estate |
| with by gathering copies of your joint tax records for | | | | taxes will be based on the evaluation of assets in all |
| the past five years, records of both your husband's | | | | his accounts.7. Update your insurance policies. If your |
| and your own retirement plans, all insurance policies, | | | | spouse worked for a company that has a health plan |
| bank and brokerage accounts, and the deed to your | | | | covering 20 or more employees, the law requires the |
| house and any other property the two of you might | | | | plan to offer you and any dependents coverage for at |
| own, jointly or seperately. Bundle the documents in one | | | | least 18 months but can be stretched up o three years |
| big file that you keep in a safe but accessible place, | | | | if you have dependent children. Also update any life or |
| such as a locked drawer.2. Obtain death certificates. | | | | disability insurance policies.8. Put your money |
| You'll have to send nearly two dozen copies of your | | | | someplace safe. Do not even think about making any |
| husband's death certificate to credit card companies, | | | | major financial decisions at this time. It is recommend |
| the company that holds the mortgage on your home, | | | | that you refrain from investing any lump-sum insurance |
| insurers and various other companies and agengies to | | | | or pension payout for at least six months, and if you |
| verify his death. At this time, they are not requiring the | | | | can wait this long, a full year after your husband's |
| copies be certified by the state.3. File for benefits. | | | | death. Stash cash into liquid money market funds, or |
| Notify your husband's employer and file for any | | | | short-term certificates of deposit or Treasury bills.9. |
| benefits owed you, such as pension income, life | | | | Work out a spending plan. You have already |
| insurance and health insurance coverage. Do this by | | | | assembled the important documents. Now you need |
| talking to the person in charge of employee benefits | | | | to allocate your new income to satisfy your needs as |
| (ask the human resource department to direct you). | | | | well as investing your money for retirement, for your |
| Find out about settlement options - does the plan want | | | | children's education, and so forth. Subtract what you |
| you to choose between a lump-sum payment or | | | | owe on your mortgage, credit cards and outstanding |
| annuitized payments, which are made every year.4. | | | | loans as well as any tax obligations from your total |
| File insurance claims. Alert your husband's life insurance | | | | assets. How much income do you have? How much |
| company and file a claim. Your insurance agent will | | | | do you spend each month? Determine which bills must |
| have all the policy information you will need and will be | | | | be paid and which are optional. There's your spending |
| able to help you obtain the necessary forms.5. Notify | | | | priorities.10.Take it slow. After you navigated the |
| government offices. The Social Security Administration | | | | must-do list and found the crucial documents, take a |
| will need to be notified. You must have been married a | | | | break. Don't be pressured to make big financial |
| minimum of nine months before your spouse's death | | | | decisions. When you are ready, it's a good idea to set |
| to be eligible for benefits, except in the case of death | | | | up an appointment with a financial adviser to help you |
| resulting from accident or military service. Don't forget | | | | make wise decisions.Roger SorensenAmerica's |
| to contact the motor vehicles bureau in your state to | | | | Financial Guide can be found at ==> Subscribe to |
| change all vehicle registrations to your name.6. Contact | | | | Money Basics via - Are you ready for financial |
| financial services providers. Any joint accounts should | | | | freedom? |