AFTER THE DEATH OF A SPOUSE
After a spouse has died, it can seem impossible to focus on the details, let alone make important decisions. Here is a list of what should not be delayed:
- Connect with attorneys, accountants, and financial advisors
- Secure your finances – most importantly find out what assets are immediately available to you
- File paperwork to claim insurance proceeds and retirement funds
- Locate the Will and/or Trust
Later on, focus on:
- Estate administration- are there are tax returns to file? Is a probate needed?
- Analyze assets and cash flow needs – take a closer look at the full picture of assets available presently and in the future. Have you inherited IRA’s? Should a new investment adviser be consulted?
- Do you need to update your own estate plan? Have you updated your beneficiary designations on your IRA’s and life insurance?
As you move from short to long-term considerations, take the time you need to make these important decisions and create your own team of investment and legal advisors.
Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.
This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.
