1. Taking stock of your financial situation


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Taking stock of your financial situation. “Where do I stand financially?”

It is common when a spouse or partner dies to focus on the moment and the past. This is a natural aspect of grieving and is most likely concentrated on the emotional aspects of the loss.

However, it is also important to do the same for the financial aspects of life. Being clear about one’s financial status can set the stage for meeting ongoing expenses while recognizing that grieving can produce hasty decisions with adverse long-term consequences.

The following subtasks may assist you in taking stock of your financial situation. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Take time to grieve

Subtask 2: Locate important documents and financial records

Subtask 3: Assess your monetary and investment assets

Subtask 4: Evaluate your life insurance status


Death of a Life Partner Tasks

1. Taking stock of your financial situation
2. Identifying your sources of income
3. Revising your spending plan
4. Revising your estate plan and advance directives
5. Examining Medicare, Medicaid, and long-term care issues

Taking stock of your financial situation Subtasks

1. Take time to grieve
2. Locate important documents and financial records
3. Assess your monetary and investment assets
4. Evaluate your life insurance status

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